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Carbon Tax Archive

Inflation Reduction Act EU Tax & Trade Cooperation: EV Tax Credit

TweetShareSharePin0 Shares Over the last six months, European perceptions of the Inflation Reduction Act have been a rollercoaster. European policymakers were hopeful that the Inflation Reduction Act would implement Janet Yellen’s Pillar Two commitment at the Organisation for Economic Cooperation and Development (OECD). But hope turned to disappointment when the final text was fundamentally different from

Carbon Tax Revenue Recycling: Carbon Tax Border Adjustment

TweetShareSharePin0 Shares Key Findings Carbon leakage occurs when a climate policy in one jurisdiction leads to emissions-producing activity simply shifting to a different jurisdiction. Leakage raises both environmental concerns—as it undermines emissions reduction efforts—and economic concerns. In the aggregate, leakage is relatively small, but it could have an outsized impact on specific emissions-intensive, trade-exposed (EITE)

Inflation Reduction Act Energy Tax Increases

TweetShareSharePin0 Shares As noted in a Tax Foundation blog post last week, the Inflation Reduction Act (IRA) primarily uses carrots, not sticks, to incentivize reductions in carbon emissions. The Inflation Reduction Act creates or expands tax credits for various low- or no-emission technologies, rather than imposing a generalized penalty for emissions, such as a carbon tax.

Inflation Reduction Act Green Energy Tax Credits

TweetShareSharePin0 Shares The Inflation Reduction Act created numerous tax subsidy programs intended to accelerate the transition to a greener economy. The justification for climate change action is strong, but there are two possible approaches to take which we might colloquially call carrots and sticks. Carrots are subsidies designed to reduce emissions—think tax credits for green energy

Carbon Border Adjustment Mechanism (CBAM): Carbon Price & Tariffs

TweetShareSharePin0 Shares After an unpredictable legislative journey, the European Union has entered the final stage of negotiations on the world’s first carbon border adjustment mechanism (CBAM). It would appear that some in the United States Congress are paying attention. On June 8th, the European Parliament rejected a proposal to reform the EU’s Emissions Trading System

Carbon Taxes: Green Tax & Climate Change Tax Reforms

TweetShareSharePin0 Shares Key Findings By driving changes to the climate, carbon emissions will impose major long-term economic costs, both here in the U.S. and around the world. Carbon taxes are an option to make the market reflect future costs of carbon emissions, discouraging emissions and incentivizing development and implementation of clean technology. Carbon taxes also

2022 Carbon Tax Rates in Europe

TweetShareSharePin0 Shares In recent years, several countries have taken measures to reduce carbon emissions, including instituting environmental regulations, emissions trading systems (ETS), and carbon taxes. In 1990, Finland was the world’s first country to introduce a carbon tax. Since then, 19 European countries have followed, implementing carbon taxes that range from less than €1 per

French Election: Macron vs. Le Pen

TweetShareSharePin0 Shares The second round of voting in the French presidential election will be 24 April between incumbent Emmanuel Macron and National Rally candidate Marine Le Pen. Although tax policy has not been a central theme of the campaign due to the war in Ukraine, immigration debates, and cost of living issues, the winner’s policy

EU Carbon Border Adjustment Mechanism (CBAM)

TweetShareSharePin0 Shares The Council of the EU agreed this week on a general approach to the European Commission’s Carbon Border Adjustment Mechanism (CBAM) proposal. The mechanism is a key aspect of the EU’s broader Fit for 55 package which aims to cut 55 percent of net greenhouse gas (GHG) emissions in the EU by 2030.

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