To: President Donald Trump, The United States House of Representatives, and The United States Senate
Carbon Tax: Coordinating Our Efforts to Save the Planet
We need a revenue-neutral carbon tax that will correct the negative effects of pollution and send the right price signals to allow our economy to quickly transition to clean energy.
Why is this important?
Installing a low-flow toilet, riding your bike, and reusing grocery bags are worthwhile actions that save energy and inspire others to do the same. However, individual actions are not enough to have an effect on climate change.
Yesterday the UN released the latest report from the Intergovernmental Panel on Climate Change. According to the report, greenhouse gas emissions must be cut by 40-70% by 2050 to hold the global temperature increase to 2 degrees Celsius. Cuts this large will require an international effort, but the US is the world's largest economy and we can and should be leaders on this issue.
A carbon tax would be the quickest and most efficient way for the US to cut its greenhouse gas emissions. The carbon tax should be revenue-neutral, meaning that any revenue generated from the tax should be offset either by reductions in distortionary taxes (such as income tax) or government transfers.
Yesterday the UN released the latest report from the Intergovernmental Panel on Climate Change. According to the report, greenhouse gas emissions must be cut by 40-70% by 2050 to hold the global temperature increase to 2 degrees Celsius. Cuts this large will require an international effort, but the US is the world's largest economy and we can and should be leaders on this issue.
A carbon tax would be the quickest and most efficient way for the US to cut its greenhouse gas emissions. The carbon tax should be revenue-neutral, meaning that any revenue generated from the tax should be offset either by reductions in distortionary taxes (such as income tax) or government transfers.