This resolution would express Congress’ opposition to a federal carbon tax due to concerns that it would raise prices on essentials like food, gasoline, and electricity while having a negative impact on U.S. economic growth. In general, a carbon tax seeks to reduce emissions by taxing carbon-based fossil fuels like coal, oil, or natural gas at a given stage of the fuel’s product lifecycle.
While there are no impending votes on legislation that would impose a carbon tax, the lawmakers supporting this resolution outlined their specific concerns that such a policy:
Would impact the budgets of families and consumers across the board through higher prices, but would especially harm the poor, the elderly, and those on fixed incomes;
Would increase the cost of all goods manufactured in the U.S. while restricting the global competitiveness of America’s economy;
Would restrict domestic energy production and inhibit or reverse the job creation and investment that the energy industry has contributed to the U.S. economy.
As a concurrent resolution, this legislation could be passed by both chambers of Congress, but it wouldn’t go to the president’s desk for a signature as it wouldn’t have the force of law.
Taxes
