,

New York Times: Some Democrats See Tax Overhaul as a Path to Taxing Carbon

,

With a sweeping overhaul of the tax code on the horizon, two Senate Democrats believe this is the moment to broach the third rail of climate change policy: a carbon tax.

The plan by the senators, Sheldon Whitehouse of Rhode Island and Brian Schatz of Hawaii, to level a $49 per metric ton fee on greenhouse gas emissions is widely acknowledged as a long shot. But the lawmakers, along with climate activists and a cadre of conservative supporters, insist the tax reform is a way to create bipartisan support. The senators propose to use a portion of the estimated $2.1 trillion they anticipate in carbon tax revenue over the first 10 years to reduce the top marginal corporate tax income rate, something the White House has called for.

,

The Washington Post: Advantages of a Carbon Fee

,

The No. 1 reason that a carbon fee (or tax) has political potential is that it offers Congress flexibility. Lawmakers could opt for the Shultz and Summers’s proposal and treat all their constituents to a quarterly dividend. Or they could use the sizable revenue such a fee would generate to reduce the high corporate tax rate or some other tax. Yet another option is to plow that money into infrastructure, aid for coal-dependent communities, clean energy and other priorities.

Like Congress, the business community can also see value in such a fee, as illustrated by the support of General Motors, ExxonMobil, Procter & Gamble and other major corporations. Its simplicity, efficiency and reliance on the free market make a carbon fee superior to other climate-change solutions, and business executives are not in denial about the changing climate. Let’s hope that the business community will use its influence to convince Congress that pricing carbon is not only good for Americans’ health but is also smart economics and smart politics.

William C. Eacho, Washington

The writer is co-founder of the Partnership for Responsible Growth.

 

The Hill: A Wall Street veteran's views on climate risk: We must act now

The Hill: A Wall Street veteran's views on climate risk: We must act now

I’m a Wall Street risk manager. As an employee, a partner and, for four years, the risk manager at Goldman Sachs, I served many chairmen, including Bob Rubin, Hank Paulson and Lloyd Blankfein, who leads the firm today. Every one of them has always understood that managing risk is vital to the firm’s financial success and always a priority.

,

E&E Daily: Renewables, carbon tax feel the love at D.C. march

,

Marchers carried tiny wind model turbines to the White House on Saturday, along with banners supporting solar energy, carbon taxes and pipeline resistance.

,

Climatewire: Exxon and a Carbon Tax

,

Exxon Mobil Corp. commands attention and gets it.

So energy and climate experts naturally took notice last week when CEO Darren Woods said charging a fee on greenhouse gases across the United States is a good idea.

"A uniform price of carbon applied consistently across the economy is a sensible approach to emissions reduction," Woods said in a statement (Climatewire, Feb. 24).

Bloomberg Markets: Exxon's New Chief Endorses Carbon Tax to Combat Climate Change

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.