Donald Addu: Carbon tax benefits

April 20, 2014 

The April 6 editorial “ Weather alert” exemplifies the need for action on climate change. We need an option that will curb fossil fuel use, encourage renewable energy production, increase energy efficiency and ensure national security without increasing the size of government. All of these goals can be accomplished with a revenue-neutral carbon tax.

President Obama has directed the EPA to regulate greenhouse gas emissions but Congress has pushed back hard to stop the expansion of government. However, instead of attacking the EPA, opponents of regulation can embrace a market-based solution favored by a number of prominent conservatives: Put a tax on carbon and give the revenue back to the people. Such a plan has been endorsed by Reagan’s Secretary of State George Shultz and Mitt Romney’s adviser Greg Mankiw as the best way to let the market address climate change while putting people back to work.

A carbon tax with the revenue refunded is the easiest and surest way to transition to a low-carbon society while having a positive impact on our economy.

Donald Addu

Durham

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