Earth Equity News

John Larson Introduces Carbon Tax Bill. Press Release, USHouse, March 5, 2009. "Congressman John B. Larson (CT), Chairman of the House Democratic Caucus, introduced legislation today that would tackle our climate change crisis while protecting hard working Americans from rising energy costs. The carbon tax legislation will put a tax on the producer of carbon emissions and pass the revenue on to working Americans as a payroll tax rebate. 'I believe that the best way to address climate change is the way that is simplest and most transparent,' said Larson. 'Unlike a cap and trade system, my carbon tax would create no complex new bureaucracies or complicated auction schemes. Rescuing our environment should not be an excuse to create a new market for investors to exploit. We've seen the impact of rampant speculation and out of control derivative trading on our energy market, our housing market, and our stock market. Our planet is too precious to put in the hands of Wall Street executives looking to make a profit... 'I have yet to meet one person who can explain a cap and trade auction in a way that someone at Augie and Ray's, my local diner, could understand,' said Larson. 'But, a carbon tax is a simple solution that people can wrap their arms around.' A carbon tax also offers the benefit of price certainty to American families and small businesses. A cap and trade system could lead to wild fluctuations in energy prices, making it hard for families and businesses to plan and budget. By regularly monitoring emissions and adjusting the rate of taxation, as this legislation does, it can also provide some certainty in emissions reduction. Congressman Larson's carbon tax legislation fits within the broad framework the Obama Administration laid out in its budget outline. It would use the revenue of a new climate change policy to pass tax savings on to the consumer and help impacted industries."