new political push for carbon tax in the U.S.

There is a new emerging push for carbon taxes in the U.S., led by Republicans and using pro-business language. According to Bloomberg:

The campaign, dubbed Americans for Carbon Dividends, aims to bolster a carbon tax-and-dividend plan advanced by prominent Republicans a year ago, using more aggressive lobbying and advertising to line up support with hopes of winning congressional passage after the 2020 elections.

Under the Climate Leadership Council’s blueprint, every ton of carbon dioxide would be hit with a $40 tax, with the price rising over time and revenue redistributed to households in the form of quarterly dividend checks. In exchange, regulations aimed at cutting carbon dioxide emissions — and much of the Environmental Protection Agency’s authority to regulate them — would be eliminated.

Companies that emit greenhouse gas emissions also could win liability protection insulating them from litigation over the costs of climate change — a potentially enticing sweetener as lawsuits mount

So, nominally anti-tax, anti-deficit politicians would get a revenue neutral program, anti-regulation politicians would get to trade away regulations in favor of taxes, and even the fossil fuel industry would get some liability protection. The other implication here seems to be that at least some Republicans in Congress are starting to think about a post-Trump world after 2020, and/or are willing to look for issues where a veto-proof super-majority could be possible.

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