Cap-and-trade and carbon tax: time for another look at the relative costs

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Courtesy of Bloomberg BNA

The author of this article describes findings by the Congressional Budget Office and others that a carbon tax would be less costly than cap-and-trade in achieving any given level of greenhouse gas reductions. Noting there now may be political space to address cost differences between the version of cap-and-trade in the Waxman-Markey Bill (H.R. 2454) and a tax, the author says that a widened debate could lead to the incorporation of additional cost-reducing features into cap-and-trade legislation.

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