Surge in US economists’ support for carbon tax to tackle emissions

US economists led by former US Federal Reserve chair Janet Yellen are uniting in record numbers to back the idea of a carbon tax as the most effective and immediate way of tackling climate change.

At a time when Democrats including New York congresswoman Alexandria Ocasio-Cortez are pushing a sweeping “Green New Deal” programme to reduce greenhouse emissions, climate change is shaping up to be a major 2020 election issue. The US is the world’s second-biggest emitter of carbon dioxide, behind China.

But Ms Yellen told the Financial Times the Green New Deal was costly, whereas the carbon tax, which would plough proceeds back to the public in dividend payments, would be the “most efficient way” to reduce emissions.

Read the story from the Financial Times - “Surge in US economists’ support for carbon tax to tackle emissions.”