A Carbon Tax Could be the Key to Boosting Innovation and Growth

In an op-ed for The Hill, Joe Kennedy writes that the United States and other nations should use carbon taxes to slow greenhouse emissions. Properly implemented, a carbon tax will induce additional innovation in both efficiency and cleaner sources of energy, which will lower the costs of reducing carbon emissions. Moreover, it will generate revenues, that if recycled to increase tax incentives for further research and capital equipment investment could lead to a net boost to growth, offsetting most, if not all, of the effects of the tax increase.