On Wednesday, Feb. 9, 2017, a group of prominent Republicans and business leaders1 from the Climate Leadership Council released a carbon tax proposal entitled “The Conservative Case for Carbon Dividends.” Acknowledging “mounting evidence” of climate change and the need to “hedge against the risks associated with future warming,” the four-pronged proposal would impose a tax on carbon for oil, gas and coal use, which together comprise nearly 80 percent of total U.S. greenhouse gas emissions (GHGs). In a nod to industry preferences as well as conservative Republican principles, the proposal also contemplates the elimination of certain existing regulations aimed at reducing carbon dioxide emissions (CO2).
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