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The Conservative Case for Carbon Dividends
Report

The Conservative Case for Carbon Dividends

James A. Baker III, Martin Feldstein, Ted Halstead, N. Gregory Mankiw, Henry M. Paulson Jr., George P. Shultz, Thomas Stephenson and Rob Walton
CL Council, 2017
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Editorial Rating

10

Qualities

  • Innovative
  • Hot Topic

Recommendation

A revenue-neutral carbon tax would be an effective and politically feasible way to tackle climate change, according to a group of senior Republicans, including former treasury secretary Henry Paulson and former secretaries of state James Baker and George Shultz. The group, which has formed the Climate Leadership Council, proposes that the Grand Old Party can address climate change without abandoning long-held conservative convictions or hurting the economy. While always politically neutral, getAbstract recommends the Council’s succinct policy proposal to business leaders, policy makers and US voters of any political affiliation.

Take-Aways

  • A “carbon dividends plan” would allow the Republican party to address climate change while remaining true to its principles of free markets and limited government. 
  • The government could implement an incrementally increasing carbon tax and redistribute the revenues in the form of a dividend to American citizens.
  • Exporters to countries with no carbon tax would have their carbon tax payments refunded, while the US would impose a fee on imports from such countries, encouraging them to adopt a similar system.

About the Authors

The Climate Leadership Council is an international research and advocacy organization in favor of equitable climate solutions. The group includes senior officials from previous Republican administrations.

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