July 25, 2019

TAX WHAT YOU DON'T WANT, NOT WHAT YOU DO:

Niskanen Center Applauds Introduction of the SWAP Act (Niskanen Center, July 25, 2019)

The Niskanen Center applauds Representatives Francis Rooney (FL-19) and Dan Lipinski (IL-3) for their new proposal, the Stemming Warming and Augmenting Pay (SWAP) Act of 2019. If passed, the SWAP Act  would levy a tax on carbon pollution in exchange for a reduction in the rate of payroll taxes for employees and employers, and a moratorium on enforcement of the Clean Air Act regulations on stationary sources of greenhouse gas emissions. Combined with a meaningful increase in R&D funding for low-carbon technology, these measures will help reduce the long-term costs of decarbonization and accelerate emissions reductions in the United States.

"The Swap Act is an ambitious initiative that would reduce greenhouse gas emissions far more than the regulatory initiatives launched by former President Barack Obama, taking us a long way towards decarbonization of the economy by 2050," said Niskanen Center president Jerry Taylor. "The net effect of the bill is to shift the burden of taxation from working Americans to polluters--where it should be--all while harnessing capitalism, not regulatory bureaucracies, to direct the necessary emission reductions. This is what a free market climate solution looks like," he added.

In embracing pricing carbon emissions through a carbon tax, the SWAP Act, utilizes the best tool Congress has at its disposal for achieving emissions reductions at low cost and the needed scale. 

Posted by at July 25, 2019 5:40 PM

  

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