US Representative Pete Stark (D-CA), a senior member of the Committee on Ways and Means with jurisdiction over US tax policy, introduced a bill (HR 2069) that would impose a tax on carbon-based fossil fuels.
The Save Our Climate Act would levy an initial tax of $10 per ton of carbon content on coal, petroleum and natural gas when these fossil fuels are initially removed from the ground or imported into the United States.
The tax will increase by $10 each year, freezing when a mandated report by the Internal Revenue Service and the Department of Energy determines that carbon dioxide emissions have decreased by 80% from 1990 levels.
Predictable, transparent and universal, a carbon tax is a simple solution to a difficult problem. It would drastically reduce our carbon dioxide emissions by providing an economic disincentive for the use of carbon-based fossil fuels and an incentive for the development and use of cleaner alternative energies.—Representative Stark