The First Carbon Tax Shift

British Columbia has introduced North America's first carbon tax shift.

Initially, it will tax carbon dioxide emissions at $10 per ton, and the tax will rise to $30 a ton over the next five years. There will be matching income tax cuts, so this is not actually an added tax but a tax shift that is revenue neutral.

This is a good start, but it is not large enough to meet goals for reducing CO2 emissions. I have estimated that a tax that begins at $20 per ton and increases by 10% a year would be enough to reduce emissions by 80% before 2050, which is needed to avoid the worst effects of global warming.

For more information on the benefits of a carbon tax shift, see
http://www.preservenet.com/studies/CarbonTaxShift.html