15 minutes to understand how taxing carbon pollution will help Vermonters
It’s time to put a price on carbon pollution
We have a responsibility to tackle the root cause of global warming. That means we have to stop allowing oil and gas companies from polluting Vermont for free. The Energy Independent Vermont’s plan will require these companies to pay a tax on the carbon pollution created by the fossil fuels they sell.
Watch Vermont Law School Professor Janet E. Milne Explain Carbon Pollution Taxes 101
Who is Professor Janet E. Milne?
Professor Janet E. Milne is recognized internationally as an expert in environmental tax policies. The courses she has taught at Vermont Law School include Environmental Tax Policy, Income Tax, Land Use Law, Land and Takings, and Property. [read more…]
What is environmental taxation?
People often think of taxation and the environment as two entirely different worlds—two circles that do not intersect. Governments impose taxes to raise the revenues they need to operate; governments get involved in environmental matters to protect the public interest. However, the two circles do intersect. Governments can—and do—use tax policies to achieve environmental goals.
Environmental taxes come in many different forms, but as a general matter environmental tax measures either impose a tax cost on some product or activity that is environmentally damaging, or they give a tax benefit to some product or activity that is environmentally beneficial. [read more]
Invest in Vermonters by helping us save money and cut pollution.
The plan will use some of the revenue from the pollution tax to create an Energy Independence Fund to help Vermonters save money on their home heating and other energy costs, and cut carbon pollution. We just need to boost our efforts to implement the efficiency and clean energy technology available to us today.
Hold the largest polluters responsible, while giving Vermonters and Vermont businesses a rebate or tax cut.
By charging oil and gas companies for the pollution they create, we can finally afford to make substantial cuts to other taxes Vermonters currently pay. And even if oil and gas companies try to pass on the costs by raising prices, Vermonters and local businesses come out on top. Vermonters’ incomes would still rise by a whopping $100 million in 10 years.
Why putting a price on pollution works for Vermonters
A pollution tax will save Vermonters money by helping them switch to clean energy and efficiency, create jobs, and keep Vermonters’ dollars local.
According to economic modeling performed specifically for Vermont by non-partisan firm Regional Economic Models Inc., this pollution tax will not only slash carbon pollution, it will also help grow Vermont’s economy and create good-paying jobs. Read on to find out how.
By helping Vermonters weatherize their homes and make other investments to cut their energy bills and dependence on fossil fuels, this plan will save Vermonters hundreds of millions of dollars that they’d otherwise be spending on fossil fuels, while putting Vermont on track to meet our energy goals.