CBO report examines carbon tax's possible consequences

06/10/2013
Establishing a tax on carbon would raise significant revenue for the federal government, but could have potentially serious general economic impacts, the Congressional Budget Office said in a new report. The key question is whether short-term adverse impacts are preferable to possibly disastrous consequences of not addressing global climate change, it suggested. "Given the inherent uncertainty of predicting the effects of climate change, and the possibility that it could trigger catastrophic effects, lawmakers might view a carbon tax as a reflection of society's willingness to pay to reduce the risk of potentially very expensive damage in the future," the May 22 report said. It ...
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