Implementing A Us Carbon Tax
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Implementing A Us Carbon Tax
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Author : Ian Parry
language : en
Publisher: Routledge
Release Date : 2015-02-11
Implementing A Us Carbon Tax written by Ian Parry and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-11 with Business & Economics categories.
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.
Implementing The United States Domestic And International Climate Mitigation Goals A Supportive Fiscal Policy Approach
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Author : Ian Parry
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-03
Implementing The United States Domestic And International Climate Mitigation Goals A Supportive Fiscal Policy Approach written by Ian Parry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-03 with Business & Economics categories.
The United States has pledged to become carbon neutral by 2050, meet sectoral objectives (e.g., for carbon free power, electric vehicles) and encourage greater mitigation among large emitting countries and of international transportation emissions. Fiscal policies at the national, sectoral, and international level could play a critical role in implementing these objectives, along with investment, regulatory, and technology policies. Fiscal instruments are cost-effective, can enhance political acceptability, and do not worsen, or could help alleviate, budgetary pressures. Domestically, a fiscal policy package could contain a mix of economy-wide carbon pricing and revenue-neutral feebates (i.e., tax-subsidy schemes) with the latter reinforcing mitigation in the transport, power, industrial, building, forestry, and agricultural sectors. Internationally, a carbon price floor among large emitters (with flexibility to implement equivalent measures) could effectively scale up global mitigation, while levies/feebates offer a practical approach for reducing maritime and aviation emissions.
The Design And Implementation Of Us Climate Policy
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Author : Don Fullerton
language : en
Publisher: University of Chicago Press
Release Date : 2012-09-06
The Design And Implementation Of Us Climate Policy written by Don Fullerton and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-06 with Business & Economics categories.
Economic research on climate change has been crucial in advancing our understanding of the consequences associated with global warming as well as the costs and benefits of the various policies that might reduce emissions of greenhouse gases. As nations work to develop climate policies, economic insights into their design and implementation are ever more important. With a balance between theoretical and empirical approaches, The Design and Implementation of US Climate Policy looks at the possible effects of various climate policies on a range of economic outcomes. The studies that comprise the volume examine topics that include the coordination—or lack thereof—between the federal and state governments, implications of monitoring and enforcing climate policy, and the specific consequences of various climate policies for the agricultural, automotive, and buildings sectors.
Can We Price Carbon
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Author : Barry G. Rabe
language : en
Publisher: MIT Press
Release Date : 2018-04-06
Can We Price Carbon written by Barry G. Rabe and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-06 with Political Science categories.
A political science analysis of the feasibility and sustainability of carbon pricing, drawing from North American, European, and Asian case studies. Climate change, economists generally agree, is best addressed by putting a price on the carbon content of fossil fuels—by taxing carbon, by cap-and-trade systems, or other methods. But what about the politics of carbon pricing? Do political realities render carbon pricing impracticable? In this book, Barry Rabe offers the first major political science analysis of the feasibility and sustainability of carbon pricing, drawing upon a series of real-world attempts to price carbon over the last two decades in North America, Europe, and Asia. Rabe asks whether these policies have proven politically viable and, if adopted, whether they survive political shifts and managerial challenges over time. The entire policy life cycle is examined, from adoption through advanced implementation, on a range of pricing policies including not only carbon taxes and cap-and-trade but also such alternative methods as taxing fossil fuel extraction. These case studies, Rabe argues, show that despite the considerable political difficulties, carbon pricing can be both feasible and durable.
Carbon Taxes
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Author : Mr.Ved P. Gandhi
language : en
Publisher: International Monetary Fund
Release Date : 1998-05-01
Carbon Taxes written by Mr.Ved P. Gandhi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-05-01 with Business & Economics categories.
The carbon tax is a major instrument for curbing greenhouse gas emissions that cause global warming. Yet its adoption has been limited because of concerns over its effects on economic growth, income distribution, and international competitiveness. The paper shows that policymakers can minimize the effects of the tax on economic growth through an efficient recycling of tax revenues and on equity through the adoption of appropriate mitigating or compensating measures. To eliminate the worry about the loss of competitiveness, the paper suggests an international agreement on a coordinated adoption of the tax.
The Citizen S Guide To Climate Success
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Author : Mark Jaccard
language : en
Publisher: Cambridge University Press
Release Date : 2020-02-06
The Citizen S Guide To Climate Success written by Mark Jaccard and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-06 with Business & Economics categories.
Shows readers how we can all help solve the climate crisis by focusing on a few key, achievable actions.
Fiscal Monitor October 2019
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-10-10
Fiscal Monitor October 2019 written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-10 with Business & Economics categories.
This report emphasizes the environmental, fiscal, economic, and administrative case for using carbon taxes, or similar pricing schemes such as emission trading systems, to implement climate mitigation strategies. It provides a quantitative framework for understanding their effects and trade-offs with other instruments and applies it to the largest advanced and emerging economies. Alternative approaches, like “feebates” to impose fees on high polluters and give rebates to cleaner energy users, can play an important role when higher energy prices are difficult politically. At the international level, the report calls for a carbon price floor arrangement among large emitters, designed flexibly to accommodate equity considerations and constraints on national policies. The report estimates the consequences of carbon pricing and redistribution of its revenues for inequality across households. Strategies for enhancing the political acceptability of carbon pricing are discussed, along with supporting measures to promote clean technology investments.
Carbon Tax
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Author : Jonathan L. Ramseur
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2012-10-20
Carbon Tax written by Jonathan L. Ramseur and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-20 with Business & Economics categories.
The federal budget deficit has exceeded $1 trillion annually in each fiscal year since 2009, and deficits are projected to continue. Over time, unsustainable deficits can lead to reduced savings for investment, higher interest rates, and higher levels of inflation. Restoring fiscal balance would require spending reductions, revenue increases, or some combination of the two. Policymakers have considered a number of options for raising additional federal revenues, including a carbon tax. A carbon tax could apply directly to carbon dioxide (CO2) and other greenhouse gas (GHG) emissions, or to the inputs (e.g., fossil fuels) that lead to the emissions. Unlike a tax on the energy content of each fuel (e.g., Btu tax), a carbon tax would vary with a fuel's carbon content, as there is a direct correlation between a fuel's carbon content and its CO2 emissions. Carbon taxes have been proposed for many years by economists and some Members of Congress, including in the 112th Congress. If Congress were to establish a carbon tax, policymakers would face several implementation decisions, including the point and rate of taxation. Although the point of taxation does not necessarily reveal who bears the cost of the tax, this decision involves trade-offs, such as comprehensiveness versus administrative complexity. Several economic approaches could inform the debate over the tax rate. Congress could set a tax rate designed to accrue a specific amount of revenues. Some would recommend setting the tax rate based on estimated benefits associated with avoiding climate change impacts. Alternatively, Congress could set a tax rate based on the carbon prices estimated to meet a specific GHG emissions target. Carbon tax revenues would vary greatly depending on the design features of the tax, as well as market factors that are difficult to predict. One study estimated that a tax rate of $20 per metric ton of CO2 would generate approximately $88 billion in 2012, rising to $144 billion by 2020. The impact such an amount would have on budget deficits depends on which budget deficit projection is used. For example, this estimated revenue source would reduce the 10-year budget deficit by 50%, using the 2012 baseline projection of the Congressional Budget Office (CBO). However, under CBO's alternative fiscal scenario, the same carbon tax would reduce the 10-year budget deficit by about 12%. When deciding how to allocate revenues, policymakers would encounter key trade-offs: minimizing the costs of the carbon tax to “society” overall versus alleviating the costs borne by subgroups in the U.S. population or specific domestic industries. Economic studies indicate that using carbon tax revenues to offset reductions in existing taxes—labor, income, and investment—could yield the greatest benefit to the economy overall. However, the approaches that yield the largest overall benefit often impose disproportionate costs on lower-income households. In addition, carbon-intensive, trade-exposed industries may face a disproportionate impact within a unilateral carbon tax system. Policymakers could alleviate this burden through carbon tax revenue distribution or through a border adjustment mechanism. Both approaches may entail trade concerns.
Paying For Pollution
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Author : Gilbert E. Metcalf
language : en
Publisher: Oxford University Press, USA
Release Date : 2019-01-10
Paying For Pollution written by Gilbert E. Metcalf and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-10 with Business & Economics categories.
Climate change : what's the big deal? -- Business as usual : what are the costs? -- Why do economists like a carbon tax? -- Isn't there a better way? (No, there isn't) -- Cap and trade : the other way to price pollution -- What to do with $200 billion : give it back -- So you want a carbon tax : how do you design it? -- Objections to a carbon tax -- Enacting a carbon tax: how do we get there? -- Afterword : what next? -- References -- Notes
Fiscal Policies For Paris Climate Strategies From Principle To Practice
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-02
Fiscal Policies For Paris Climate Strategies From Principle To Practice written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-02 with Business & Economics categories.
This paper discusses the role of, and provides practical country-level guidance on, fiscal policies for implementing climate strategies using a unique and transparent tool laying out trade-offs among policy options.