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A Carbon Tax Would Cut The Deficit By $1 Trillion
A Carbon Tax Would Cut The Deficit By $1 Trillion | ThinkProgress
Want to cut the debt?
A carbon tax of $25 per ton of emissions would cut the deficit by $1 trillion over a decade, according to the Congressional Budget Office (CBO).
The finding was part of a report CBO just put out detailing 103 different ways in terms of both cutting spending and raising revenue the U.S. government could reduce its deficit. At a total haul of $1.06 trillion by 2021, the carbon tax was far and away the biggest deficit reducer of any option listed.
Its a policy that enjoys widespread support amongst politicians, industry spokespersons, economists, and polling of the general public. But its also on the legislative back-burner save for efforts by Rep. Henry Waxman (R-CA) and a handful of other concerned legislators while the Obama Administration attempts to cut carbon emissions through the regulatory authority of the Environmental Protection Agency.
A Carbon Tax Would Cut The Deficit By $1 Trillion | ThinkProgress
Want to cut the debt?