Carbon tax helps economy
Thanks for another fabulous article by Robin Chesnut-Tangerman, “Watching the House Burn.” He mentioned that people fear the cost of acting to reduce carbon emissions is too high. He then countered with the very true claim that not acting on climate change costs even more in lost crops and damage from storms. But there is a stronger response to the fear that cutting emissions is too expensive.
A study by REMI (Regional Economic Models Inc) of the economic effects of a gradually increasing carbon tax collected from fossil fuel producers and rebated 100 percent to the public indicates such a tax can create jobs and grow the economy. REMI’s report to be released June 9 forecasts a carbon tax can increase national employment by 2.1 million more jobs after 10 years.
It has long been true that the fears of acting on environmental issues will hurt our pocketbook. But actually it can be turned into a fantastic opportunity to grow the economy in exciting new directions by enacting a carbon tax with rebate.
For more information on revenue-neutral carbon taxes and the REMI study, please contact Citizens’ Climate Lobby.