Timothy Puko and Ted Mann of The Wall Street Journal report on industry support for a carbon tax.
- A carbon tax is regressive in nature and forces lower and middle-income families to contribute a larger share of their income to energy costs.
- If enacted in the United States, a carbon tax would raise the cost of everything economy-wide while doing little to curb global greenhouse gas emissions or meaningfully address climate change.
- A better way to reduce emissions is by lowering the price of green technologies through investments in R&D, reducing regulations for all energy sources, and adopting a more technology-neutral tax code.
Read the full article here.