Democrat moves to revive carbon tax as option for upcoming EPA rules
One House Democrat yesterday floated draft legislation that would allow states to implement a carbon tax to comply with U.S. EPA’s forthcoming rule for existing power plant CO2.
The standards may be expressed either as total aggregate emissions states would be allowed to release or as limits at individual plants — a “rate-based” standard. EPA has given few details about what it will propose, including whether it will require reductions across the power system or whether it will be limited to upgrades on-site at plants.
In a statement accompanying the proposal, Delaney said he shares President Obama’s goal of limiting the emissions driving climate change. But he said a carbon tax would allow the market to decide how emissions would be curbed, allowing for maximum efficiency.
“To tackle a problem this big, we need to unleash the power of the market and encourage the innovation and drive of our inventors and entrepreneurs,” he said.