Addressing Climate Change Without Impairing the U.S. Economy
A new study authored by Dr. Robert Shapiro, former Under Secretary of Commerce for Economic Affairs, along with Drs. Nam Pham and Arun Malik, has analyzed the environmental and economic consequences of adopting a politically-acceptable approach to carbon-based taxes. By applying a new tax to the use of energy based on its carbon content and returning 90 percent of the revenues in tax relief for the people and businesses using the energy and paying the tax, the U.S. can reduce CO2 emissions to levels consistent with protecting the climate and offset the tax-related costs for most Americans. The remaining 10 percent of the revenues would be dedicated to accelerating climate-related research and development and support for the broad deployment of climate-friendly technologies.