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Carbon Tax Trade for Climate Rules Touted for Economic Boost

Dec. 18, 2020, 10:45 AM

A plan by prominent Republicans and business leaders to enact a carbon tax rather than new climate regulations could have significant advantages in growing the U.S. economy, a study released Friday said.

The Climate Leadership Council’s carbon dividends plan touts the broad economic advantages of carbon taxes over regulating climate change. By 2036, U.S. annual Gross Domestic Product would be $420 billion higher annually under the plan’s carbon tax compared with similar carbon reductions that relied on a patchwork of regulations, according to the study.

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