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An Innovation Carbon Price: Spurring Clean Energy Innovation While Advancing US Competitiveness

Read the report: www.itif.org The United States faces two key energy challenges—improving national security by reducing dependence on foreign oil and mitigating the impacts of climate change by reducing carbon emissions. Closely linked is another challenge—as well as an opportunity—boosting international economic competitiveness by discovering and widely commercializing clean energy technologies. Until now, the predominant approach to these challenges was to based solely on raising the cost of carbon, either with a tax or through cap and trade. But this approach has come under strong resistance in part because raising the price of energy hurts US industrial competitiveness. ITIF proposes a unique, alternative approach to meet all three goals simultaneously. The way to do it is through a revenue-neutral innovation carbon price. ITIF proposes a fifteen-year economy-wide carbon tax on upstream, combustible, non-feedstock fuel sources of per ton. Roughly 83 percent of tax revenues would be recycled back into the economy as growth and innovation inducing business tax incentives. Businesses that invest in the building blocks of innovation and growth—R&D, workforce training, and capital equipment—would receive a much more generous tax incentive than they currently receive. The remaining 17% of revenue would fund a Clean Energy Innovation Trust Fund that would support clean energy innovation initiatives. We believe that with this proposal we can have our proverbial cake and
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3 comments on “An Innovation Carbon Price: Spurring Clean Energy Innovation While Advancing US Competitiveness

  • Carbon Tax is new Ponzi Scheme backed by Goldman Sach who ruins many european countries. Carbon Tax is just like another stock share with no actual plans at all, all just to feed to richest and bring in New World Order. All middle class will be wiped out.

  • @ToMyColorEye See the report linked in the description. If they’re not in the report, most of them are in Rob Atkinson’s presentation from the March 10 event “U.S. Competitiveness: A New Conversation with New Opportunities.” See ITIF’s website.

  • can you send more detailed links please? i cant find the charts, can please i have the link to all the charts, and links to your solutions please, thank you

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