Daily Tax Report ®

Climate Group That Unites Yellen, Exxon Unveils Carbon Tax Plan

Sept. 11, 2019, 10:10 AM

Major oil, power and consumer products companies are releasing their most specific plans yet for a nationwide tax on carbon dioxide that promises to halve U.S. emissions of the greenhouse gas by 2035.

The more detailed blueprint set to be unveiled Sept. 11 by the Climate Leadership Council calls for a $40 tax to be levied on each ton of carbon dioxide, with the fee increasing at least 5% every year and proceeds rebated to American consumers.

The tax would be imposed on carbon dioxide emissions at the mines and power plants whose products generate the greenhouse gas.

In exchange...

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