Rep. Jim McDermott Introduces Carbon Tax Law | ThinkProgress

Sounds like a great idea! I wonder what the loop holes are, and how big they are, and how the oil companies will turn this to their profit

On Thursday, Rep. Jim McDermott (D-Wash.) introduced a bill that would force fossil fuel producers to pay for their carbon dioxide emissions. It is the latest attempt by Congress to put a price on carbon.

The Managed Carbon Price Act of 2012 (MCP) would grant the U.S. Treasury Department authority to issue permits representing one-quarter ton of CO2. Unlike the cap-and-trade legislation that failed in the Senate in 2009, the MCP does not allow permits to be traded. Rather, they can only be purchased or refunded from Treasury.

via Rep. Jim McDermott Introduces Carbon Tax Law | ThinkProgress.

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About fester60613

Evangelical Antireligionist.
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