Inside Transportation

From Capital Partnerships LLC

Chairman Dingell Proposes a Carbon Tax

Congressman John Dingell, chairman of the House Energy and Commerce Committee, doubts that Americans are ready to pay what it will really cost to address global warming. To prove it, he is introducing a carbon tax on the burning of all fossil fuels that add carbon dioxide into the atmosphere. His proposal will add 50 cents/gallon to the price of gas and set a "double digit tax" on each ton of carbon dioxide emissions. Under pressure from the House leadership to produce a climate change bill this fall, his intention is to make a real statement about the costs associated with tackling the problem. 

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