Today, the R Street Institute commends Rep. Carlos Curbelo (R-Fla.) for the introduction of the MARKET CHOICE Act, which would establish a $24-a-ton tax on carbon dioxide emissions in 2020.

“This legislation is a good starting point for discussion. Rep. Curbelo has shown that conservatives have constructive ideas when it comes to responding to the risks of climate change,” said Josiah Neeley, R Street’s energy policy director. “Prices matter; putting a price on carbon dioxide emissions will spur innovation and lead to lower emissions throughout the economy. A properly designed carbon tax can both mitigate the effects of global warming and lead to increased economic prosperity for the country.”

Neeley added, “The bill is not perfect. The fact that the legislation is not revenue neutral, for example, is a major drawback. We hope to work with Rep. Curbelo and other members of Congress going forward to ensure that a carbon tax does not grow the overall size of government.”

Among other provisions, the MARKET CHOICE Act would repeal the federal gasoline tax and suspend the U.S. Environmental Protection Agency’s authority to regulate greenhouse gases.

R Street is a non-profit public policy research organization that supports free markets; limited, effective government; and responsible environmental stewardship. It has headquarters in Washington, D.C. and five regional offices across the country. Its website is www.rstreet.org.