Senator Dodd Calls for Carbon Tax

Keene, NH (April 19, 2007)- Presidential candidate Sen. Chris Dodd (D-CT) says the best way to cut pollution and curb global warming is to tax corporations for their carbon dioxide emissions. “You have to have a price-driven strategy if you are going to succeed in this thing,” Dodd said in a telephone interview Wednesday with the Associated Press. “Otherwise, I’m afraid it’s just a lot of talk. People are trying to avoid the difficult decisions.”

Several greenhouse gas-related bills and plans propose some form of a cap-and-trade system, aimed at reducing carbon dioxide emissions by allowing more efficient polluters to sell emission credits to less efficient polluters. Dodd supports that system, but said it only works if it is combined with a tax.
“I don’t know how we can possibly talk about honestly getting to the number we need to get to if you’re going to just dance around that issue,” Dodd said. “Price is the last real barrier.” Sen. Dodd’s “Corporate Carbon Tax” would produce some $50 billion annually in revenues to fund research, development and production of renewable energy technologies and make them more affordable.
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