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Thursday, August 09, 2012

New Legislation Would Place A Tax On Carbon Emissions

Speaking of climate change, Democratic Congressman Jim McDermott introduced legislation last week to place a tax on carbon emissions. The Managed Carbon Price Act of 20-12 would require major producers of greenhouse gases, like the coal, oil, and natural gas industries to purchase carbon credit from the Treasury Department depending on how much pollution they emit into the air. According to the Brookings Institute – carbon credits would run at a price of roughly $15 per ton of carbon. The revenue generated from the tax will then be put to paying down the deficit, and giving energy consumers subsidies to deal with slightly higher prices as the economy transitions from fossil fuels to renewables. According to polling, 75% of Americans support regulating carbon greenhouse gases as pollutants – and 60% support a carbon tax similar to what Congressman McDermott has introduced.

5 comments:

Anonymous said...

and the cost will be passed on to the consumers.

Anonymous said...

this will not matter as long as china and other countries do not follow . This is just another tax on businesses.

Anonymous said...

The democrats make up problems to solve, then the solution to every problem for democrats is to raise taxes.
Carbon emissions to absolutley nothing to the environment.
We are living on a planet with carbon based life!

Anonymous said...

It's worked great in europe, right? Oh wait, it hasn't.


Why are we following the trail that Europe has blazed? All it will do is lead to failure.

Daddio said...

Carbon dioxide is exhaled by everyone who breathes the air.

Let's start by taxing those who expel the most hot air from their lungs:

Congressional members.

We can proceed from there with carbon taxes on folks like government bureaucrats, etc.