Sens. Float New Fossil Fuel Carbon Tax

Law360, New York (February 14, 2013, 2:12 PM EST) -- A pair of U.S. Senate lawmakers on Thursday floated a bill that would place a $20-per-ton fee on carbon emissions from fossil fuels in an attempt to reduce greenhouse gases in the atmosphere and encourage the development of more efficient energy sources.

Sens. Bernie Sanders, I-Vt., and Barbara Boxer, D-Calif., said the tax would apply to more than 2,800 large fossil fuel producers that are responsible for 85 percent of greenhouse gas pollution in the United States. The fee would increase 5.6 percent per year over...
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