…U.S. Congress Introduces Carbon Tax… Rep. Theodore Deutch, (D-FL) introduced H.R. 7173: Energy Innovation and Carbon Dividend Act of 2018. “This bill amends the Internal Revenue Code to impose a fee on the carbon content of fuels, including crude oil, natural gas, coal, or any other product derived from those fuels that will be used so as … “
to tax us at an annually increasing rate until the undefined “goals” are met.
“The fee is imposed on the producers or importers of the fuels and is equal to the greenhouse gas content of the fuel multiplied by the carbon fee rate. The rate begins at $15 [per ton of carbon] in 2019, increases by $10 each year, and is subject to further adjustments based on the progress in meeting specified emissions reduction targets.”
US Senators Chris Coons (D-Del.) and Jeff Flake (R-Ariz.) introduced a similar bill in the Senate.