As the United States commits to accelerating decarbonization as part of global efforts to combat climate change, the policies it enacts will govern its chances of success.
Putting a price on carbon dioxide (CO2) emissions can help governments reduce them rapidly and in a cost-effective manner.
Growing public concern about the social, economic, and environmental impacts of climate change, along with pressure for lawmakers to introduce policy proposals that reduce emissions, have brought carbon taxes to the center of policy discussions on Capitol Hill. Thus far in 2019, seven different carbon tax legislative proposals have been introduced in Congress.
A carbon price is a fee on each unit of carbon dioxide (CO2) or other greenhouse gas emissions released into the atmosphere.