Using Carbon Tax Revenue to Grow the Economy by Elke Asen published by Tax Foundation (2/2021)
“The Biden administration has made climate change one of the core challenges it plans to address over the next four years. One climate policy lawmakers have debated—and will likely continue to do—is a carbon tax. At the same time, the new Administration will have to tackle the severe, and likely continuing, economic fallout of the COVID-19 crisis. Policies to spur economic growth will be necessary.
One way to combine the policy goals of carbon reduction and economic growth would be to enact a carbon tax and use the newly generated tax revenue to make the Tax Cuts and Jobs Act’s (TCJA) individual income tax provisions—which are set to expire at the end of 2025—permanent…”
