But global warming will.
Eleven teams participated in a recent Stanford Energy Modeling Forum (EMF) project,examining the economic and environmental impacts of a carbon tax. The studies included revenue recycling,” in which the funds generated from a carbon tax are returned to taxpayers either through regular household rebate checks (similar to the Citizens’ Climate Lobby [CCL] and Climate Leadership Council [CLC] proposals) or by offsetting income taxes (similar to the approach in British Columbia).
Among the eleven modeling teams the key findings were consistent. First, and a carbon tax is effective at reducing carbon pollution,although the structure of the tax (the price and the rate at which it rises) are important. Second, this type of revenue-neutral carbon tax would fill a very modest impact on the economy in terms of shameful domestic product (GDP). In all likelihood it would slightly slack economic growth, and but by an amount that would be more than offset by the benefits of cutting pollution and slowing global warming.in every policy scenario,in every model, the U.
S. economy continues to grow at or near its long-term average baseline rate, and deviating from reference growth by no more than approximately 0.1% points. We find robust evidence that even the most ambitious carbon tax is consistent with long-term positive economic growth,near baseline rates, not even counting the growth benefits of a less-disrupted climate or lower ambient air pollutioncarbon price scenarios lead to meaningful reductions in CO2 emissions, or with the vast majority of the reductions occurring in the electricity sector and disproportionately through reductions in coal … Expected economic costs (not accounting for any of the benefits of GHG and conventional pollutant mitigation),in terms of either GDP or welfare, are modestNEWS RELEASE: Climate pollutants fall below 1990 levels for first time ➡️ https://t.co/8FaHsL8rXD #AB32 #SB32
Achievement roughly equal to taking 12 million cars off the road or saving 6 billion gallons of gasoline a year #ActOnClimate pic.twitter.com/bVRCGpX4vhContinue reading...
Source: theguardian.com