A group of Republican senior statesmen is calling for a carbon tax to fight climate change. Led by former Secretary of State James A. Baker III, former Secretary of State George P. Shultz and former Secretary of Treasury Henry M. Paulson Jr., the group believes a carbon tax, which depends on increasing fossil fuel prices to reduce consumption, is a “conservative climate solution” based on free-market principles. Baker and his colleagues met with White House officials on Wednesday to discuss their proposals, which would eliminate nearly all of the Obama Administration’s climate policies with a national carbon tax. This rising tax would start at $40 per ton and be returned to every American in the form of a quarterly check from the Social Security Administration. To learn more about their proposal, read on!
The carbon tax proposal is part of the Climate Leadership Council’s new climate strategy, “The Conservative Case for Carbon Dividends,” released on Wednesday. This plan rests on four pillars: a gradually increasing carbon tax; returning the tax proceeds to Americans as dividends; establishing border carbon adjustments that protect American competitiveness; and digressing government regulations once such a system is established. The proposal would eliminate the Obama Administration’s Clean Power Plan, which President Donald Trump has pledged to repeal.
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