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Although the future extent and effects of global climate change
remain uncertain, the expected damages are not zero, and risks of
serious environmental and macroeconomic consequences rise with
increasing atmospheric greenhouse gas concentrations. Despite the
uncertainties, reducing emissions now makes sense, and a carbon tax
is the simplest, most effective, and least costly way to do this.
At the same time, a carbon tax would provide substantial new
revenues which may be badly needed, given historically high
debt-to-GDP levels, pressures on social security and medical
budgets, and calls to reform taxes on personal and corporate
income. This book is about the practicalities of introducing a
carbon tax, set against the broader fiscal context. It consists of
thirteen chapters, written by leading experts, covering the full
range of issues policymakers would need to understand, such as the
revenue potential of a carbon tax, how the tax can be administered,
the advantages of carbon taxes over other mitigation instruments
and the environmental and macroeconomic impacts of the tax. A
carbon tax can work in the United States. This volume shows how, by
laying out sound design principles, opportunities for broader
policy reforms, and feasible solutions to specific implementation
challenges.
Although the future extent and effects of global climate change
remain uncertain, the expected damages are not zero, and risks of
serious environmental and macroeconomic consequences rise with
increasing atmospheric greenhouse gas concentrations. Despite the
uncertainties, reducing emissions now makes sense, and a carbon tax
is the simplest, most effective, and least costly way to do this.
At the same time, a carbon tax would provide substantial new
revenues which may be badly needed, given historically high
debt-to-GDP levels, pressures on social security and medical
budgets, and calls to reform taxes on personal and corporate
income. This book is about the practicalities of introducing a
carbon tax, set against the broader fiscal context. It consists of
thirteen chapters, written by leading experts, covering the full
range of issues policymakers would need to understand, such as the
revenue potential of a carbon tax, how the tax can be administered,
the advantages of carbon taxes over other mitigation instruments
and the environmental and macroeconomic impacts of the tax. A
carbon tax can work in the United States. This volume shows how, by
laying out sound design principles, opportunities for broader
policy reforms, and feasible solutions to specific implementation
challenges.
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