Democrats Seek To Impose Carbon Border Tax To Curb Emissions
Last week, the European Union proposed imposing a carbon border tax on countries that do not have strict pollution control policies. This week, Democratic lawmakers proposed an annual carbon tax on countries, like China, which are not taking serious measures to reduce their carbon emissions. The proposal comes from the Office of the United States Trade Representative, the Department of Treasury and the Biden’s Administration. The border tax is expected to be proposed in tandem with the $3.5 trillion budget reconciliation resolution. While experts have said that a carbon tax could cause serious...