#1 Obama May Levy Carbon Tax to Cut the U.S. Deficit, HSBC Says11-07-2012, 06:03 PM
By Mathew Carr - Nov 7, 2012 4:31 AM CT
Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.
A carbon tax starting at $20 a ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates.
“Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.
11-07-2012, 09:01 PM
Who wants to make a bet? The bet is if he levies such a tax that the monies wont go to reduce the debt?We're from Philadelphia, We Fight- Chip Kelly
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