Representative Carlos Curbelo has introduced a carbon tax bill in Congress. The Florida Republican’s bill would set a tax on carbon emissions starting at $24.00 per ton in 2020. The tax would rise 2% per year above inflation until 2030. The carbon tax would increase an additional $2.00 per ton in any year when carbon emissions failed to fall.
Representative Curbelo’s bill would repeal the existing federal excise tax on gasoline. The carbon tax would be imposed on gasoline and diesel fuel for vehicles and carbon based fuels such as coal and natural gas. The bill is intended to reduce greenhouse gas emissions in the United States.
Representative Curbelo believes that the revenue from the carbon tax should be spent on modernizing America’s aging highways and infrastructure. Democrats and Republicans both support modernizing America’s aging infrastructure. The political stumbling block is how to raise billions of dollars in funding to pay for modernizing America’s highways and infrastructure. The proposed bill is expected to raise approximately $1 trillion in tax revenue from 2020 to 2030.
The Florida Republican faces a tough road to win support for his carbon tax bill. Even supporters of the bill referred to the proposed legislation as a way to start a conversation. In my opinion, this bill shows that energy isn’t a Republican or Democratic issue. This bill is about reducing greenhouse gases and using the funds to pay for the modernization of America’s aging infrastructure.