Taxing the Planet Clean: Boxer, Sanders call for $1.2 Trillion Carbon Tax

Photo Credit: APSens. Bernie Sanders (I., Vt.) and Barbara Boxer (D., Calif.) announced they will introduce sweeping new energy regulations, including a carbon tax, during a Thursday press conference.

The proposed legislation would use a tax on carbon emissions to fund “historic investments in energy efficiency and sustainable energy technologies such as wind, solar, geothermal, and biomass,” according to a press release.

“We have the opportunity right now, with the president’s commitment in the State of the Union to make major progress,” Sanders said at the press conference. President Barack Obama called for “meaningful” action on climate change in his State of the Union address Tuesday, and Boxer said her bill was in line with the president’s goals.

“The president is right—we must do more to combat climate change, and Superstorm Sandy was a wake-up call,” Boxer said in a statement. “I strongly support the president’s efforts to move forward with executive actions to address this serious threat.”

Sanders said the bill’s tax—$20 per ton of carbon dioxide above a set limit—would target 2,869 of the country’s biggest carbon emitters, including coalmines, oil refineries, and natural gas processing points.

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