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Current strategies to address climate change include subsidizing clean energy production, raising minimum efficiency standards for buildings and factories, and even instituting outright bans on gasoline-powered automobiles. But another strategy, one advocated by many economists — the carbon tax — harnesses market forces to lower greenhouse gas emissions.
On this episode of EconoFact Chats, Tufts professor Gib Metcalf and host Michael Klein discuss what a carbon tax would look like, the bipartisan support for it, and how it could affect jobs and businesses. They also discuss broader opportunities for the new Biden administration to address climate change.
The conversation draws on Metcalf’s experience in the United States Treasury, as well as his recent book Paying for Pollution: Why a Carbon Tax is Good for America.