Economic Development

Implement a Tax Neutral Carbon Tax Shift – Replace Business, Sales and Property Taxes with a Carbon Tax

This proposal would:

 

-repealing the state portion of the property tax (about 1/4 of the total property tax)

 

-replacing the lost revenue with a carbon tax starting at $30-$50 per ton of CO2 (equivalent to $0.30-$0.50 per gallon of gasoline)

 

-dedicating leftover revenue to offsetting impacts on low-income households; reducing the B&O (business) tax; increasing funding for K-12 math/science education; and/or funding clean energy research at state colleges and universities

 

The state should tax things that we want less of, not more of. Also, the purpose of the tax shift would be to simply change the things that are being taxed, so that our tax system is more efficient. It would by no means increase total tax levels or increase the size of government as the taxes would dollar for dollar replace other taxes.

 

For more information about the proposal go here: http://www.carbonwa.org/

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Idea No. 117