Conservative think tank: Swap corporate tax for carbon fee
A conservative think tank says lawmakers should consider ending taxes on corporations and instead institute a fee on carbon dioxide emissions.
A report from the R Street Institute, released Friday, said a fee on carbon could fill the revenue gap left by ending the federal tax on corporations.
Citing the Congressional Budget Office, the study said ending the tax on corporations would cost $300 billion a year, based on 2016 figures. More than $167.2 billion of that would be made up through other forms of tax reform and higher income from workers and investors, and the group said a $25 per ton fee on carbon pollution could be used to fill in the remaining gap in revenue.