Schumer: Hillary Win Could Pave the Way for Carbon Tax

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Posted by Alexander Hendrie on Wednesday, June 24th, 2015, 3:08 PM PERMALINK

In a recent speech, Senator Chuck Schumer (D-N.Y.) said he hopes for a Carbon tax if Hillary Clinton becomes President in 2016. In particular, he believes Republicans should “compromise” and agree to this tax:

“There's one sort of [value-added tax] Democrats might be for — and that's a carbon tax. So you might get a compromise along those lines.”

President Obama has considered implementing a carbon tax on several occasions during his presidency, however the idea has been met with fierce opposition. 

Schumer characterized the carbon tax as “the best way to fund the government” despite the idea previously being criticized by economists and businesses alike. 

His comments on the carbon tax as a way to address “revenue shortages” mirrors the rhetoric of “revenue enhancements” coming from the Hillary Clinton presidential campaign. Earlier this month, Clinton’s press secretary announced in a tweet that Clinton will be proposing several “revenue enhancements,” or tax increases over the summer and fall. 

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