But 50-cents is all one Congressman wants to curb the greenhouse gas problem.
U.S. Rep John Dingell is calling for a 50-cent-per-gallon increase in gasoline tax. The proposal could generate hundreds of billions of dollars per year. More importantly, it would cause Americans to think twice about large SUVs.
But that’s not where the plan ends.
Dingell wants a $50 a ton tax on carbon released from burning coal, petroleum or natural gas. Dingell also proposes a reduction on mortgage interests for smaller houses. This, he says, rewards those that live a lifestyle with less of a carbon footprint.
And, did I mention Rep John Dingell is from Detroit, aka, the motor city?
Well, Dingell claims the car industry won’t be completely crushed. He will exempt the tax for diesel, allowing automobile manufacturers to still capitalize on extra-large cars and trucks that would utilize the chepar diesel.
“I’m trying to have everybody understand that this is going to cost and that it’s going to have a measure of pain that you’re not going to like.” -U.S. Rep John Dingell
The positives? Economists believe this is the easiest, most efficeint way to cut down on carbon and is much easier than the cap-and-trade system, which could be hard to implement.
And the negative side? A tax on carbon would effect everything from heating your home in the winter to the cost of your electricity. Simply put, Rep. Dingell could be a very unpopular man.
Dingell also says that this is just a proposal and he anxiously waits for feedback on the plan.
(And believe me, he’ll be getting more than feedback on this.)