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Double DividendEnvironmental Taxes and Fiscal Reform in the United States$
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Dale W. Jorgenson, Richard J. Goettle, Mun S. Ho, and Peter J. Wilcoxen

Print publication date: 2014

Print ISBN-13: 9780262027090

Published to MIT Press Scholarship Online: September 2014

DOI: 10.7551/mitpress/9780262027090.001.0001

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Designing Energy and Environmental Policies

Designing Energy and Environmental Policies

Chapter:
(p.1) 1 Designing Energy and Environmental Policies
Source:
Double Dividend
Author(s):

Dale W. Jorgenson

Richard J. Goettle

Mun S. Ho

Peter J. Wilcoxen

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262027090.003.0001

This book presents a new approach for designing energy and environmental policies for the United States. In the absence of hidden costs of energy the role of government policy would be to maintain competitive and smoothly function markets for energy. Environmental policy requires that users of fossil fuels bear the costs of health and other damages. This can be achieved by levying taxes on emissions that are equal to the incremental damages. By using the revenues from environmental taxes we are able to reduce the rate of taxation on capital income and produce a double dividend, consisting of substantial reductions in pollution and an improvement in economic performance.

Keywords:   Environmental policy, Taxes on emissions, Double dividend, Reductions in pollution, Improvement in performance

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