Senior US Republicans, including three former Cabinet members - James Baker, George Schultz and Hank Paulson - are promoting a carbon tax to cut greenhouse gas emissions. Since the public, especially Republicans, are averse to taxes, it will be sold as "environmental insurance" rather than tax. To start, carbon emitters would pay $40 per tonne of CO2 emissions; the money would then be dispersed to the US public, giving a four-person family about “$2,000 in carbon dividends in the first year, an amount that could grow over time as the carbon tax rate increased”. The idea is not new.
Senior US Republicans, including three former Cabinet members - James Baker, George Schultz and Hank Paulson - are promoting a carbon tax to cut greenhouse gas emissions. Since the public, especially Republicans, are averse to taxes, it will be sold as "environmental insurance" rather than tax. To start, carbon emitters would pay $40 per tonne of CO2 emissions; the money would then be dispersed to the US public, giving a four-person family about “$2,000 in carbon dividends in the first year, an amount that could grow over time as the carbon tax rate increased”. Carbon taxes cut emissions dramatically in Australia, but were repealed due to political opposition.