1. POLICY:
Carbon tax discussion gains momentum as fiscal cliff looms
A debate over how to use the revenue from a carbon tax is taking shape, with one plan pushing back on conservative sentiment that revenue from an emission price should be restricted to cuts in other taxes, beginning with income tax. A new paper by the Brookings Institution argues that a carbon tax could generate $30 billion a year for clean-tech investments, including the deployment of specific technologies. Such a carbon tax, priced at $20 a ton, would also raise an estimated $120 billion annually to reduce the deficit and lower other tax rates, a key negotiating point meant to attract Republican support. Go to story #1
Climate change is high on his to-do list.