Carbon Pricing is a great alternative to emissions command-and-control regulations

Source: Niskanen Center
by Shuting Pomerlau

“Gina McCarthy, the climate advisor to President Biden, recently said that the Biden administration will not support a carbon price if it prevents federal agencies from regulating carbon emissions directly. McCarthy’s remarks indicate the administration’s strong preference for tackling climate change with command-and-control regulations. It’s puzzling, however, that the administration would oppose a national carbon price if it replaces equivalent emissions regulations. One of the benefits of a carbon price is that it incentivizes cutting carbon emissions more efficiently and at less cost than regulatory mandates.” [editor’s note: It’s not a “price.” It’s a “tax.” There’s a difference – TLK] (05/26/21)