DEM PRES CANDIDATE DODD FOR CARBON TAX

This newsblog has made and makes no endorsement. As the candidates line up on the topic of carbon tax vs. carbon cap-and-trade, it will be reported.

Dodd favors corporate tax for carbon
Andrew Miga, April 18, 2007 (AP via Yahoo News)

WHO
Senator Christopher Dodd, Democrat from Connecticutt and candidate for the Democratic presidential nomination

WHAT
Senator Dodd has distinguished himself from other candidates in the democratic field by advocating for a tax on CO2 emissions, as opposed to the carbon cap-and-trade system advocated by other candidates.

WHEN
Dodd announced his position the week of April 19, 2007. He advocated raising the Corporate Average Fuel Economy (CAFÉ) standard to 50 MPH by 2017. He set a goal of reducing greenhouse gas emissions 80% by 2050.

WHERE

WHY
Dodd’s primary mechanism for cutting emissions by imposing a tax, a per-ton fee on polluters. He expects it to amount to revenue of $50 billion/year and he would use it to incentivize renewable energy sources via subsidies for generation and use. Opponents of the carbon tax express the traditional fear that taxation potentially burdens and slows economic growth. Most Democrats have voiced support for a market-based carbon cap-and-trade system, though that would carry its own costs.

QUOTES
Dodd: You have to have a price-driven strategy if you are going to succeed in this thing…Otherwise, I'm afraid it's just a lot of talk. People are trying to avoid the difficult decisions."
Dodd: "You can't just do this by talking about investing in fuel cells and investing in solar (energy)…You've got to have a tough answer. And if you don't have a tough answer, you aren't going to get there."