Washington Carbon Tax: Take two
Washington Carbon Tax: Take two
If the Democrats re-take Congress in November, a national carbon tax is likely to be part of their agenda. A referendum in Washington state next month is a test of public support.
Two years ago, nearly 60% of Washington voters rejected a ballot initiative to impose a "revenue-neutral" carbon tax. The green groups opposed the referendum because it would not generate money for environmental generosity. The companies said it would destroy jobs and increase energy prices, which is true.
Liberals have now arranged what they thought was the fatal flaw of the first referendum, namely, income neutrality. This year's initiative would impose a carbon "fee" of $ 15 per ton that would increase by $ 2 per year. The tax is designated as a fee because the $ 2.3 billion in revenue that is projected to be generated over the next five years will go primarily to "clean air and energy" programs, such as solar energy and subsidies for electric cars, instead of general expenses.
But revenues are fungible, and carbon tax revenues would invariably finance government spending in other areas. That has been the case in California, where Democrats have used capitalization and trade income to finance the state's bullet train, low-income housing and public transportation, in addition to green leaflets.
The tax would raise gas prices by 13 cents per gallon in 2020 and 59 cents per gallon by 2035. Washington currently has the third highest gas price in the country after Hawaii and California, and Seattle passengers will not enjoy paying how many extra dollars each time they are filled. Electricity rates would rise modestly, largely because most of the state's power is already generated by dams.
An analysis conducted by National Economic Research Associates estimates that the tax would cost Washington households an average of $ 440 in 2020 and would reduce the state's economic growth by 0.4% over the next two years. Not even good liberals in Washington pretend that residents and low-income workers will be considered harmless.
Therefore, the referendum requires that 10% of revenues be spent to reduce energy costs for low-income residents. At least $ 50 million should also go to support workers at risk with fossil fuels. Washington processes Bakken Shale crude from North Dakota and ranks fifth in the country in oil refining.
The key factor is that approximately 40% of state emissions would be exempt, including industries "exposed to high energy consumption trade", such as aluminum production, diesel used in agriculture, fossil fuel exports and fuel purchased by local and state governments. The sky for the repair of the tax could cost government union jobs. This political favoritism can mitigate the adverse economic effects of the tax and public opposition. But if liberals are really concerned about climate change, why tolerate exceptions?
The Washington tax could reduce global emissions by 0.02% in 2035, and the Intergovernmental Panel on Climate Change recently estimated a global The price of carbon between $ 135 and $ 5,500 per ton would be necessary to prevent a climate apocalypse. This level of taxation would be a policy of not starting anywhere.
But if the Washington referendum is approved, the Liberals will be emboldened to boost carbon copies in other states and Congress. Some on the right advocate a national carbon tax along with a supposed "dividend" for taxpayers, but here all revenues are for the politicians of Olympia. History in Washington shows that liberals are more concerned with increasing the tax revenues they spend than with reducing emissions.
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