Chris Dodd isn't likely to win the Democratic nomination for President, much less the Presidency, but he does have some ideas worth listening to. In particular,
Dodd earlier Thursday unveiled an environmental policy that calls for a steep increase of auto fuel economy standards to 50 miles per gallon by 2017 and a mandate for the government to use clean-energy vehicles and green technology in all its offices.
Dodd's proposal sets a goal of reducing 80 percent of greenhouse gas emissions by 2050.
He wants to discourage corporate greenhouse gas polluters by imposing a per-ton fee on businesses for carbon emissions.
The tax revenue, which he estimates at about $50 billion annually, would be used to develop renewable energies and to reduce prices for consumer products. (source)
I'm not crazy about mandating fuel economy standards. I'd rather see a carbon tax set at a high enough rate to significantly discourage consumption of fossil fuels, one in which all or part of the revenue was used to offset impacts on those with low incomes. But I'm delighted that a Presidential candidate has put the idea on the table.
Of course, this is a little bit of deja vu all over again. Didn't Ross Perot propose a gas tax in 1992?
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