Obama could levy carbon tax to cut US deficit, says NSFM participant

Ethical Markets SRI/ESG News

President Obama could consider introducing a tax on carbon emissions to help cut the US budget deficit after winning a 2nd term as President, according to Nick Robins of HSBC, an NSFM participant.

“A tax starting at USD20 a metric ton of carbon dioxide equivalent and rising at about 6% a year could raise USD154 billion by 2021,” Nick said. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” he continued.

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