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Obama May Levy Carbon Tax to Cut the U.S. Deficit, HSBC Says

Posted By yihan On November 7, 2012 @ 11:10 am In Featured Stories,Tile | Comments Disabled

Mathew Carr
Bloomberg.com [1]
November 7, 2012

Barack Obama [2] may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit [3] after winning a second term as president, according to HSBC Holdings Plc.

A carbon tax starting at $20 a ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates.

“Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.

Full story here. [1]


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URLs in this post:

[1] Bloomberg.com: http://www.bloomberg.com/news/2012-11-07/obama-may-levy-carbon-tax-to-cut-the-u-s-deficit-hsbc-says.html

[2] Barack Obama: http://topics.bloomberg.com/barack-obama/

[3] U.S. budget deficit: http://topics.bloomberg.com/u.s.-budget-deficit/

[4] It’s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama’s 1st Term: http://www.prisonplanet.com/its-official-2012-deficit-was-1-087t-1t-all-4-yrs-of-obamas-1st-term.html

[5] Geithner defends Obama as deficit again tops $1 trillion: http://www.prisonplanet.com/geithner-defends-obama-as-deficit-again-tops-1-trillion.html

[6] Obama’s “Millionaire Tax” Collected Over Next Ten Years Will Plug 4 Months Worth Of Deficit: http://www.prisonplanet.com/obamas-millionaire-tax-collected-over-next-ten-years-will-plug-4-months-worth-of-deficit.html

[7] Government impose ‘carbon capture levy’ to fund coal-fired power plants: http://www.prisonplanet.com/government-impose-%e2%80%98carbon-capture-levy%e2%80%99-to-fund-coal-fired-power-plants.html

[8] Obama to raise 10-year deficit to $9 trillion: http://www.prisonplanet.com/obama-to-raise-10-year-deficit-to-9-trillion.html

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