{open_quotes}No regrets{close_quotes} tax reform
- Environmental Protection Agency, Washington, DC (United States)
The possible role of carbon taxes in reducing global warming is Aspects of global warming are discussed in this paper. Findings from a policy research program are very briefly summarized. The most significant finding is that the effects of a carbon tax on the economy and on industrial growth depend on what is done with the revenues. Models of the economic effects of an $80 billion carbon tax were compared for revenues applied to the federal deficit, income tax reduction, and investment tax credits. For revenues applied to retiring the federal deficit, the overall gross national product (GNP) decreased in the early years but was somewhat neutralized in the long run. Revenues applied to cut income taxes did not result in an increase of GNP levels at any time, and the use of revenues to provide investment tax credits showed mixed results.
- OSTI ID:
- 468976
- Report Number(s):
- CONF-9112113--
- Country of Publication:
- United States
- Language:
- English
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