In his first blog post since succeeding Rex Tillerson, the new head of Exxon Mobil Corp. focused on climate change, calling for a carbon tax to discourage use of polluting fuels.
Wall Street Journal: What’s Behind the Border Tax Kabuki?
Where can revenue scorers get the $1 trillion over 10 years the border tax was supposed to raise? Well, ahem, a carbon tax is also a consumption tax. To make it acceptable to free marketers, it would have to come with a full stop to all climate-related mandates and subsidies including fuel-mileage rules. It would also have to be clear that all carbon-tax proceeds are being used to cut payroll or income taxes.
Boston Globe: GOP elders push for climate action
Bloomberg News: This Tax Could Save the Planet From Climate Change
Washington Post: An Elegant Climate Policy
A GROUP of prominent Republicans brought a refreshing message to Washington on Wednesday: Climate change is a threat that deserves serious attention, and the GOP should embrace smart ways of dealing with it. What sorts of ways? The group — which calls itself the Climate Leadership Council and includes two former secretaries of state, James A. Baker III and George P. Shultz; two former chairmen of the Council of Economic Advisers, Martin S. Feldstein and N. Gregory Mankiw; and former treasury secretary Henry M. Paulson Jr. — has a carbon emissions-reduction plan ready to go. And it is excellent.