by Mark Fischetti and Amanda Montañez, Scientific American
Marilyn A. Brown and Majid Ahmadi of the Georgia Institute of Technology modeled a $25 and $60 tax on each metric ton of carbon dioxide emitted by the U.S. energy system. The $25 tax resulted in more jobs, but substantially less emissions reductions (see charts below).
- Brown and Ahmadi measured the carbon tax as explained in the federal Green New Deal bill
- Both taxes increased the price of using fossil fuels which should encourage faster adaptation of renewable energy and energy efficiency measures
- A $25 carbon tax would result in 72 million job-years (full-time employment for one full year)
- By 2050, over 4 million job-years will be in the energy efficiency sector under the $25 carbon tax
The Climate Center focuses on getting a price on carbon that reflects the actual cost of fossil fuels to our economy and environment and includes climate dividends.