Jan 23, 2019

Voter support for carbon tax may depend on how revenue is used

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House Democrats' climate bill aims to achieve net-zero emissions by 2050

Illustration: Eniola Odetunde/Axios

We can already draw some conclusions from yesterday's rollout of the "framework" for big climate legislation House Democrats are crafting through the powerful Energy and Commerce Committee.

Driving the news: The planned bill aims to achieve net-zero U.S. greenhouse gas emissions by 2050.

France raises pollution tax on large vehicles

Photo: Sean Gallup/Getty Images

France is aiming to lower carbon emissions by raising its pollution tax on large vehicles with a new law adopted by parliament earlier this week, Bloomberg reports.

By the numbers: Cars that emit carbon dioxide above a certain threshold will be subject to a 20,000 euro penalty — more than the current fine of 12,500 euros. France's finance ministry is projecting 50 million euros annually in revenue from the tax — those yields will be used to support automakers' shift to cleaner energy.

Go deeperArrowDec 20, 2019

Warren on economists criticizing her wealth tax: "They're just wrong"

Sen. Elizabeth Warren said at the Democratic debate Thursday that economists who claim her wealth tax proposal would stifle growth and investment are "just wrong."

Why it matters: Warren's riff on the wealth tax, in which she emphasized how "a two cent tax" on fortunes of $50 million and above, has become a core part of her stump speech.

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Keep ReadingArrowDec 20, 2019