The Daily Caller » Former GOP Rep. Bob Inglis pushes market-based climate-change ideas » Print
In exchange for the carbon tax, Inglis favors dollar-for-dollar tax cuts in either the corporate income tax, personal incomes tax or payroll tax. Alternatively, he would support returning the revenue the carbon tax would bring in to taxpayers via a dividend.
The price of gasoline and electricity would inevitably rise under the tax, a result that Inglis said is better than having an unfair market. By taxing energy companies $25 per ton of carbon emissions, for example, the cost of gasoline is estimated to rise about $.25 per gallon.
“The best way to get there is just an elegant price signal: Here’s the real cost of gasoline,” Inglis said. “If you do that, you let people decide. If you want a great big car, go ahead. If I want a Volt, then I’m not going to pay what you’re paying to get around.”