MAYOR BLOOMBERG LAUDS LARSON'S CLIMATE CHANGE LEGISLATION
FOR IMMEDIATE RELEASE: September 18, 2008
CONTACT: Emily Barocas/202-225-7295
MAYOR BLOOMBERG LAUDS LARSON'S CLIMATE CHANGE LEGISLATION
Washington, DC- The House Waysand Means is currently holding its first hearing on the issue of climate changelegislation. Members are particularlylooking at the benefits of any potential carbon tax or cap-and-tradelegislation. The panel first heard fromNew York City Mayor, Michael Bloomberg.
MayorBloomberg called carbon tax policy, like the one Congressman John Larson hasproposed, the best way forward. Larsonhas proposed legislation that will reduce payroll taxes for citizens inexchange for a tax levied on the carbon emissions spewed by approximately 2,000polluters. It passes the benefits of thetax onto consumers.
MayorBloomberg said in written testimony, "Pricing carbon emissions could involve levyinga carbon tax, as Congressmen Stark and Larson have proposed. This is the approach nearly every economistprefers - as do I."
MayorBloomberg also noted vital elements of any effective policy. He said it must besimple and straightforward. It must putthe burden of the price on carbon emissions upstream at the point of fossil fuelproduction. And, Congress must offsetthe higher costs to consumers with rebates on payroll or other personaltaxes. These are all important characteristicsof Congressman Larson's legislation.
This country is at a crossroads. For the first time the candidates at the topof both major party tickets believe in climate change and believe thatsomething must be done. And the prospect of real legislation in the nextCongress is great.
Larson spoke on behalf of his carbon tax legislation, citingthe "fierce urgency" of acting on this issue now.
He said, "Let's lookat what would be revenue neutral. Let'slook at taxing polluters upstream but passing the benefits downstream to theconsumers, reducing payroll taxes and using our creativity and this committee'sauthority to create a system that will provide the opportunity and innovationand tax relief they need as well."
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