Is a US carbon tax coming?

A carbon tax in the US is heavily supported by economists to cut the widening deficit. It even has the backing of oil and gas giant Exxon. But getting Republicans on-side will take a lot of work.

Academics and lawmakers have proposed a US carbon tax to curb carbon emissions and trim the debt pile, but the idea depends on prominent Republican support, so far absent.

Without a deal on cutting the fiscal deficit the United States faces a $600 billion package of automatic tax increases and spending cuts which could tip the country back into recession.

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