Carbon Border Tax Is Proposed by Democrats
Lisa Friedman, The New York Times
via MSN - Jul 19, 2021
WASHINGTON — Democratic lawmakers on Monday will make public a plan to raise as much as $16 billion annually by imposing a tax on imports from China and other countries that are not significantly reducing the planet-warming pollution that they produce.
The tax would be levied regardless of whether Congress passed new laws to reduce emissions created by the United States. It would be designed to be approximately equivalent to the costs faced by American companies under state and federal environmental regulations.
Experts said a border carbon tax would almost certainly provoke America’s trading partners and could create serious diplomatic challenges ahead of United Nations climate negotiations set for November in Glasgow.
But Senator Chris Coons of Delaware and Representative Scott Peters of California, Democrats who intend to announce the plan on Monday, said American companies deserved protection as the Biden administration moved forward with aggressive policies to reduce greenhouse gas emissions caused by burning fossil fuels...
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