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WHEREAS, fossil fuels can be taxed once, as far upstream as possible in the <br />economy as practical, or at the port of entry to the United States, for efficient <br />administration; and <br />WHEREAS, border adjustments levied on carbon -based products imported <br />from countries without comparable carbon pricing, and refunds to exporters, will help <br />level the playing field and maintain the competitiveness of United States' businesses in <br />global markets; and <br />WHEREAS, a national carbon tax can be implemented quickly and efficiently, <br />and respond to the urgency of the climate crisis, because the federal government <br />already has in place mechanisms, such as the Internal Revenue Service, needed to <br />implement and enforce the tax, and already collects taxes from fossil fuel producers and <br />importers; and <br />WHEREAS, the Citizens' Climate Education Corporation contracted with <br />Regional Economic Modeling, Inc. (REMI) to undertake a nation-wide macroeconomic <br />study on the impact of a revenue -neutral carbon tax; and <br />WHEREAS, REMI's research predicts that, after 10 years, a revenue -neutral <br />carbon tax would lead to a decrease of CO2 emissions by 33 percent, an increase in <br />national employment of 2.8 million jobs, and an average monthly dividend for a family of <br />four of $288; and <br />WHEREAS, if 100% of the carbon tax revenue is returned to households in <br />equal shares, approximately two-thirds of Americans will break even or come out <br />ahead, as their dividends will match or exceed direct and indirect price increases due to <br />the tax, protecting lower and middle income households; and <br />-4- <br />