If President Biden wins a second term, American households and businesses should beware of a carbon tax.
President Biden, Vice President Harris, Treasury Secretary Yellen, and Transportation Secretary Buttigieg are all on record in support of a carbon tax, as shown in the video compilation below:
In addition, congressional Democrats are pushing several carbon tax bills and most recently, nearly every House Democrat indicated support of a carbon tax: Only 10 House Democrats voted for a resolution expressing opposition to a carbon tax. All House Republicans except one voted for the resolution to express opposition to a carbon tax.
The vote was held on March 21, 2024. The resolution — H. Con. Res. 86 — expressed the sense that “a carbon tax would be detrimental to the United States economy.”
Key Democrats in the House and Senate want to impose a carbon tax. Senators Ron Wyden (D-Ore.) and Chuck Schumer (D-N.Y.) began working on legislation to create a carbon tax that would start as high as $18 per ton of CO2 and increase over time. Such a proposal could increase taxes by more than one trillion dollars over a decade.
Americans for Tax Reform opposes any form of carbon tax. A carbon tax raises the cost of heating your home in the winter and cooling your home in the summer. It raises the cost of filling your car. A carbon tax increases the cost of everything Americans buy and lowers Americans’ effective take home pay. A carbon tax increases the power, cost and intrusiveness of the government in our lives.
A second Biden term would increase the likelihood of a carbon tax, adding to the long list of tax increases proposed by the President.
Stay tuned to ATR.org/HighTaxJoe for updates.