Designing Energy and Environmental Policies
Designing Energy and Environmental Policies
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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