Old-Guard GOP to Push Carbon Tax in White House Meeting

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By Kody Fairfield

According to reports from Bloomberg, a group of old-guard Republicans and business leaders, including Gary Cohn the Chief Economic Advisor to the President, are backing a tax on carbon dioxide, taking their case to the White House on Wednesday.

Reportedly, the group, which calls themselves the Climate Leadership Council, also including former Treasury Secretaries Hank Paulson and James Baker, is pressuring Pres. Donald Trump to  to tax carbon dioxide, in an exchange for cutting environmental regulations. The group unveiled their plan with a press conference in Washington and an op-ed in the Wall Street Journal.

“Climate change poses an unacceptable risk to our climate and to our economy,” Paulson said in a statement. “Putting a price on carbon is by far the most efficient and effective way to restrict emissions.”

Baker himself conceded he remains “somewhat of a skeptic about the extent to which man is responsible for climate change” but the “risks are too great to ignore.”

The council admits that they may have an uphill battle asking the GOP to support this measure, as both Trump and members of the House have come out against a carbon tax in the last year.

“We know we have an uphill slog to get Republicans interested in this,” Baker said before heading to the White House. But “a conservative, free-market approach is a very Republican way of approaching the problem.”

The council is taking an approach similar to that forwarded by Exxon Mobil Corp. Supporters say the tax is a conservative solution to climate change that replaces a regulatory regime with a free-market approach for addressing the greenhouse gas emissions, says Bloomberg.

 

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