28 Aug '12, 12pm

MIT: US carbon tax a "win-win-win" for economy, planet and deficit - 28 Aug 2012 - News from BusinessGreen

The US could tackle its growing deficit without damaging its economy, slashing government spending or raising existing taxes, if it simply introduced a carbon tax. That is the stark conclusion of a major new economic study from researchers at the Massachusetts Institute of Technology (MIT) released yesterday, which predicts that a $20 per ton carbon levy would raise $1.5tr in additional tax revenue while resulting in a 20 per cent cut in greenhouse gas emissions by 2050. FURTHER READING US Election 2012 - Green Business Special Obama v Romney – is it time for green businesses to start worrying? Significantly, the report argues that, if revenue raised from the tax is effectively redirected to deliver a mix of tax cuts and the continuation of public services that are under threat from efforts to tackle the US deficit, the new levy would "modestly improve the economy". "Congr...

Full article: http://www.businessgreen.com/bg/news/2201195/mit-us-carbo...

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