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Dingell withdraws idea of carbon tax |
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By Jim Snyder
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Posted: 04/15/08 06:59 PM [ET] |
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House Energy and Commerce Committee Chairman John Dingell (D-Mich.) said Tuesday that he is no longer contemplating a “carbon tax” as a way to reduce greenhouse gas emissions.
“Times have changed; our economy has taken a hard downward turn and now is not the time for us to put any additional financial burden on the working families of Michigan or this nation,” Dingell said.
Dingell’s bill would have raised taxes on carbon dioxide emissions and on gasoline, and lowered the tax deduction for large homes that eat up a lot of energy as a way to lower the greenhouse gases blamed for warming the planet.
Most economists agree that a tax hike is the most efficient way to lower emissions. But policymakers seem intent on avoiding any potential political fallout that could come with a big tax increase and instead favor a cap-and-trade program.
Dingell said his bill generated 2,900 comments. While more than 61 percent of respondents answered yes to the question of whether they approved of a carbon tax, Dingell declared the proposal officially dead Tuesday.
“The reality is that this proposal is off the table for now,” Dingell said.
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