Despite all of the talk in Congress about the requirement to balance your budget, there is a serious dearth of recent ideas about how exactly it could really be achieved. The Middle for American Progress's budget proposal indicates prices carbon and placing tax on imported foreign oil could go a lengthy ways in doing just that:
Our plan addresses the potential risks and economic damage from your heavy reliance upon foreign oil and also the risks of global warming by creating a cost on pollutants of co2 along with other green house gases, and presenting an oil-import fee of $5 per barrel. Under our plan, green house gas pollutants will disappear by 42 percent of 2005 levels by 2030, and 83 percent of 2005 levels by 2050. For low- and middle-earnings citizens, any resulting increases in energy price is offset by the advantages of reduced taxes.
Browse the entire proposal at CAP.
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