Study Shows Devastating Economic Impacts Of Carbon Tax
Submitted by ahellmann on Thursday, November 15th, 2018, 2,00 PM
A new study called "The Carbon Tax: Analysis of Six Potential Scenarios" commissioned by the Insitute for Energy Research and conducted by Capital Alpha Partners provides deep insight on how damaging a carbon tax could be.
The key findings include:
A carbon tax will not be pro-growth. Most carbon tax scenarios reduce GDP for the entirety of the 22-year forecast period. Better than break-even economic performance may not be possible unless revenue is devoted entirely to corporate tax relief. A lump-sum rebate results in lost GDP equal to between $3.76 trillion and $5.92 trillion over the 22-year forecast period.
A carbon tax is not an efficient revenue raiser for tax reform. Using standard scoring conventions, a carbon tax is likely to only produce net revenue available for tax reform of 32 cents on the dollar.
https://www.atr.org/study-shows-devastating-economic-impacts-carbon-tax?amp
