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Carbon tax will save you money

July 27, 2018 by Abhay Sharma

(Source: The Hill) Once again efforts to regulate climate change are in the news. What makes this time different, however, is that regulation was proposed by a Republican. Rep. Carlos Curbelo (R-Fla.), a has introduced a bill that would repeal the federal gas tax and replace it with a carbon tax of $24 per-ton. The use of a carbon tax, like cap and trade regulation, to regulate greenhouse gases was originally proposed over a decade ago by conservative think tanks. Today, Curbelo, backed by other Republicans like James Baker, has attempted to resurrect a conservative tool that has been kicked to the curb by powerful anti-tax interests and the fossil-fuel industry. A small number of Republicans look likely to support carbon regulation. Of course, the majority of the GOP, with substantial pressure from Grover Norquist and his powerful interest group, Americans Against Taxes, continues to oppose it. They have wheeled out the usual talking points; arguing that the free market will respond without government prodding and that taxes hurt the economy and destroy jobs. It is unfortunate that these “usual suspects” continue to have traction in the public sphere despite being incorrect. Read full article…

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