Policy Experts on U.S. CAP Endorsement of Cap-and-Trade: ‘Right Intent, Wrong Policy’

January 15, 2009

Climate Task Force supports carbon tax as best policy to reduce nation’s greenhouse gas emissions

WASHINGTON, Jan. 15 /PRNewswire-USNewswire/ – Today, Dr. Robert J. Shapiro, U.S. Climate Task Force (CTF) co-founder and former economic advisor to President Bill Clinton, along with Dr. Elaine C. Kamarck, CTF co-founder and former domestic policy advisor to Al Gore, issued the following joint statement in response to the U.S. Climate Action Partnership’s misguided endorsement of an aggressive cap-and-trade scheme leading up to this morning’s House Committee on Energy and Commerce hearing:

The U.S. Climate Action Partnership’s endorsement of an aggressive cap-and-trade scheme represents a significant misstep on America’s path to mitigate carbon emissions. We share their commitment to address the risks of climate change. However, the policy they have chosen is one that has failed to lower emissions in Europe and one strongly opposed by China and other developing nations that have become major CO2 producers. Fortunately, other options exist.

A large and growing number of economists and others concerned about climate change support a carbon tax. Compared to other similar policies, a carbon tax has the advantage of being simple, transparent and easy to administer. Moreover, the revenues can be recycled in tax relief for American families. However, as today’s Energy and Commerce hearing shows, a number of influential legislators are still narrowly focused on implementing a cap-and-trade system – a policy that would make energy prices even more volatile than today and discourage the investments we need to address climate change.

We have a moral imperative to get climate policy right. And to do that, Congress must carefully weigh the risks and benefits of all potentially viable carbon policies. By soliciting the input of leaders in America’s academic, environmental, and business communities, Capitol Hill can finally engage in a long-overdue, serious debate over the most environmentally effective and economically-sound ways to reduce our greenhouse gas emissions.”

SOURCE U.S. Climate Task Force

Source: newswire

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