I Support a Price on Carbon: Reduce the Deficit!
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Concerned about the national debt and the budget deficit?
Our national debt is perilously high, and the tax cut bill and the recent spending bill will push it to even loftier heights. The spending bill funds a wide range of priorities, but where will this money come from? Surprise: from all of us who pay taxes!
The national debt is already well over $21 trillion. This should be of high concern to those on Capitol Hill. We cannot continue to add to the debt without paying a steep price eventually.
The best way for Congress to prevent a spike in the national debt is to enact a simple and transparent carbon fee. A $49-per-metric-ton fee, increasing by 2 percent a year over inflation, would generate $2.1 trillion over 10 years. After rebating a portion of the revenue to lower- and middle-income households to compensate them for slightly higher energy costs, there would still be more than $1 trillion left to help keep the debt from exploding.
We have been adding to the national debt and subsidizing the burning of carbon for too long. The only solution is to put an honest price on carbon and use some of the revenue to minimize the deficit and the national debt. Show Congress that you support this solution to our high national debt.
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