From Climate Progress I read that “Senators Bernie Sanders (I-VT) and Barbara Boxer (D-CA) are expected to outline climate legislation on Thursday morning, which will include a tax on carbon emissions.”
…“Under the legislation, a fee on carbon pollution emissions would fund historic investments in energy efficiency and sustainable energy technologies such as wind, solar, geothermal and biomass. The proposal also would provide rebates to consumers to offset any efforts by oil, coal or gas companies to raise prices.”
I agree with a carbon tax. However I strongly believe that it should be revenue neutral. Basically because it will not garner conservative support otherwise.
As the announcement does not indicate how high the proposed tax would be it’s hard to say more at this point. I hope to have more to say later.
I would just point out that revenue raising proposals in the United States pretty much have to get past a review committee of one: