Rep. Pete Stark introduces Carbon Tax bill
The bill would require the IRS and Department of Energy to issue an annual report on carbon dioxide emissions. The initial $10 would be increased by an additional $10 per year every year until CO2 emissions have been reduced by eighty percent from 1990 levels.
Assuming approximately 5.2 lbs of carbon per gallon of gasoline, the initial $10 tax would amount to about 2.6 cents per gallon but that would increase fairly rapidly.
[Source: Rep. Pete Stark]
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