Great stuff in @TheEconomist's newsletter calling for a #PriceOnCarbon to be included in climate provisions being negotiated for a Senate reconciliation bill.
Short 🧵 follows...
view.e.economist.com/?qs=8a31b55c4f…
Short 🧵 follows...
view.e.economist.com/?qs=8a31b55c4f…
"Best of all, though, would be the introduction of an explicit price on carbon. This could be imposed economy-wide, and not just on the power sector, so that distortionary impacts were minimised. It could be structured as a carbon tax,... "
"...starting modestly but rising in time to a level that bites—Canada’s carbon price is scheduled to rise to C$170 ($134) per tonne in 2030. And, to avoid allegations of big government and to prevent the tax from hurting the poor more than the rich, all revenues raised..."
"...could be recycled as tax-refund cheques to households. That single bold act could do more to unleash America’s pent-up climate innovators than all of the blather spouted at UN conferences."
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