Wednesday, June 12, 2024

Why the PROVE IT Act Would Result in Carbon Taxes – Watts Up With That?

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From ClimateREALISM

Guest post by Daren Bakst

The PROVE IT Act (S. 1863) is not a benign information collection bill on the carbon intensity of domestic and foreign goods. Instead, it would put in motion the creation of carbon taxes: a carbon tax on imported goods and a domestic carbon tax. It would also help the Biden administration as it works with the EU to impose carbon taxes on imported metals. Here’s why:

Bottom line

The PROVE IT Act would make carbon taxes a reality. If legislators genuinely oppose carbon taxes, then why even take the risk of facilitating their enactment and implementation by building the administrative framework and lobbying base for such taxes? And this would be a huge risk given that many bill supporters would use the reconciliation process to impose carbon taxes once they have the PROVE IT Act information.

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