Climate Group That Unites Yellen, Exxon Unveils Carbon Tax Plan

September 11, 2019
By Jennifer A Dlouhy

Major oil, power and consumer products companies are releasing their most specific plans yet for a nationwide tax on carbon dioxide that promises to halve U.S. emissions of the greenhouse gas by 2035.

The more detailed blueprint set to be unveiled Wednesday by the Climate Leadership Council calls for a $40 tax to be levied on each ton of carbon dioxide, with the fee increasing at least 5% every year and proceeds rebated to American consumers.