Bloomberg Endorsed a Carbon Tax

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Posted by Adam Sabes on Tuesday, November 26th, 2019, 4:20 PM PERMALINK

Michael Bloomberg is on record in support of a carbon tax, which would hit low income and rural households the hardest. 

The carbon tax is now part of the official Democratic platform and is a policy that 2020 Democrats such as Elizabeth Warren, Joe Biden, and Pete Buttigieg support.

“Putting a price on carbon emissions makes good economic sense no matter your political views.#CarbonDividends would benefit all Americans,” Bloomberg tweeted in 2017. 

He is also supportive of the Canadian carbon tax, and tweeted in April 2019 that the tax is “good for the economy.”

“Great to see Minister  @Bill_Morneau today as Canada’s federal carbon tax goes into effect. Fighting climate change with smart, market-based solutions is good for the environment and good for the economy,” he tweeted.

A carbon tax would significantly increase household costs such as cooling and heating, transportation, and groceries.

Carbon taxes are highly unpopular with voters. In fact, carbon tax advocates can’t even get a carbon tax passed in a single blue state, as this timeline shows.

Even Hillary Clinton decided against a carbon tax during her 2016 presidential race. Her campaign concluded a carbon tax would have a disproportionate impact on low income households. An internal campaign policy memo stated:

“As with the increase in energy costs, the increase in the cost of nonenergy goods and services would disproportionately impact low income households.”

The Hillary memo also notes the cost of the carbon tax will be borne by people:

“While oil, natural gas, and coal companies would be responsible for paying the fee, they would likely pass a significant share of the associated cost on to their customers.”

Carbon taxes also saddle state and local governments with huge costs. For example, a school district in Calgary was forced to kick 400 kids off the school bus program in order to pay a $3.3 million carbon tax bill.

It's no wonder conservative groups wrote a letter to Congress stating: "We oppose any carbon tax."

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Photo Credit: katie chao and ben muessig/Flickr

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