Dingell Drops Carbon Tax, Moves to Cap and Trade
April 16, 2008 4:36 PM | Posted by Patrick Greissing | Topic(s): Federal Policy/Programs
, Carbon Markets
Energy and Commerce Committee Chairman John Dingell (D-MI) announced yesterday in a written statement that he was withdrawing his proposal for a carbon tax. In his statement Dingell said, "The reality is that this proposal is off the table for now." He is now shifting his focus to a cap-and-trade program that will reduce greenhouse gas emissions by 60 to 80 percent by 2050. The reason for the shift in strategy is due to the country's current economic situation.