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Carbon Taxes in the Global Market: Changes on the Way?

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 (ETS) which […]

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Carbon Taxes and the Future of Green Tax Reform

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 come with […]

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Impact of Presidential/Legislative Elections on French Tax Policy and EU Own Resources

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 preferences over […]

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Russia’s Ukrainian War Could Impact EU Carbon Proposal Too

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. It’s also […]

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Permanent Build Back Better Act Would Likely Require Large Tax Increases on the Middle Class

The Congressional Budget Office (CBO) has given us a sobering look into our fiscal future under the Build Back Better Act (BBBA), estimating that if all the bill’s policies were made permanent, $3 trillion would be added to the national debt over the next 10 years. This is on top of more than $7 trillion […]

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Norway’s New Budget Adds Unnecessary Complexity

Norway’s new center-left government that took power on October 14 has set out its 2022 budget proposals, amending the 2022 budget proposal announced last month by the outgoing conservative government. The new budget comes with several tax cuts and a handful of tax hikes. While the new proposal cuts indirect taxes by $270 million it […]

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Austria’s Budget Comes with Tax Cuts and Carbon Levies

The 2022 Austrian budget proposal advances the tax reform plan agreed to by 2020’s coalition government formed by the Austrian People’s Party and the Greens. While Europe is registering record spikes in energy costs, Austria is pushing ahead with an agenda for carbon emissions reduction with a phased-in carbon levy. At the same time, the […]

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Carbon Tax: Weighing the Options for Financing Reconciliation

Last week, The New York Times reported that in opposing corporate or individual income tax increases, Senator Kyrsten Sinema (D-AZ) has pushed other Senate Democrats, such as Senator Ron Wyden (D-OR), to consider a carbon tax to finance some of the infrastructure package. A carbon tax would be a less economically harmful pay-for than either […]