Will carbon emission taxes be introduced in the US? Image source: Shutterstock (#274664411)
A group of Republicans and businessmen has proposed for a carbon tax that is supposed to replace the Obama administration environmental regulations aimed at reducing emissions. Supporters of the carbon tax argue that it would be much more efficient than regulations in terms of reducing carbon emissions. The idea is to charge 40 USD per metric ton of carbon dioxide and then increase the taxes every year to motivate efforts to cut the emissions. According to two analysts the tax would help to meet the Paris Agreement goals better than Obama’s regulations would. In comparison, the regulations would lead to 16 percent cut in emissions between 2005 and 2025 whereas a tax would lead to 28 percent. However, it is questionable whether the proposal would be realized because President Trump as well as many Republicans in the parliament oppose the idea of a carbon tax even though Republican supporters claim this would be a very “conservative” idea.
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