264 pages | 40 B/W Illus.
Although the future extent and effects of global climate change remain uncertain, the expected damages are not zero, and risks of serious environmental and macroeconomic consequences rise with increasing atmospheric greenhouse gas concentrations. Despite the uncertainties, reducing emissions now makes sense, and a carbon tax is the simplest, most effective, and least costly way to do this. At the same time, a carbon tax would provide substantial new revenues which may be badly needed, given historically high debt-to-GDP levels, pressures on social security and medical budgets, and calls to reform taxes on personal and corporate income.
This book is about the practicalities of introducing a carbon tax, set against the broader fiscal context. It consists of thirteen chapters, written by leading experts, covering the full range of issues policymakers would need to understand, such as the revenue potential of a carbon tax, how the tax can be administered, the advantages of carbon taxes over other mitigation instruments and the environmental and macroeconomic impacts of the tax.
A carbon tax can work in the United States. This volume shows how, by laying out sound design principles, opportunities for broader policy reforms, and feasible solutions to specific implementation challenges.
1. Carbon Taxes as Part of the Fiscal Solution 2. Choosing among Mitigation Instruments: How Strong is the Case for a US Carbon Tax? 3. Administration of a US Carbon Tax 4. Carbon Taxes to Achieve Emissions Targets – Insights from EMF 24 5. Macroeconomic Effects of Carbon Taxes 6. The Distributional Burden of a Carbon Tax: Evidence and Implications for Policy 7. Offsetting a Carbon Tax’s Burden on Low-Income Households 8. Carbon Taxes and Corporate Tax Reform 9. Carbon Taxes and Energy Intensive Trade Exposed Industries: Impacts and Options 10. The Role of Energy Technology Policy Alongside Carbon Pricing 11. Mixing It Up: Power Sector Energy and Regional and Regulatory Climate Policies in the Presence of a Carbon Tax 12. Implications of Carbon Taxes for Transportation Policies 13. Comparing Countries’ Climate Mitigation Efforts in a Post-Kyoto World
Routledge Explorations in Environmental Economics was established in 2001 and has since provided a key port of call for leading research in the field. As well as the core discipline of environmental economics, the remit of the series extends to natural resources, ecological economics, environmental studies and environmental science, with issues explored including energy, permit trading, valuation, taxation and climate change. The series is edited by Nick Hanley of the University of St Andrews.