First Tuesday Forum: Can Tax Policy Slow Global Warming

June 5, 2007 from Noon - 1:30pm
The Urban Institute, 5th Floor
2100 M Street, NW, Washington, DC

Panelists:

• Zanny Minton Beddoes, U.S. economics editor, The Economist (moderator)
• Terry Dinan, senior analyst, microeconomic studies, Congressional Budget Office
• Kevin Hassett, senior fellow and director of economic policy studies, American Enterprise Institute
• Eric Toder, senior fellow, Urban Institute and Tax Policy Center
• Roberton Williams III, associate professor of economics, University of Texas at Austin
• Question and Answer
• Complete Podcast

There is increasing scientific consensus that the earth will warm significantly in this century, due largely to carbon emissions from the burning of fossil fuels. The United States has not signed on to the Kyoto protocol to limit these emissions, but Congress and state governments are considering policies to reduce them.

Tax policies can be part of an approach that relies on decentralized markets instead of "command and control" regulations to address energy use and the problem of global climate change produced by greenhouse gas emissions. The panelists will consider a variety of policy responses, including a tax on the carbon content of fuels, tax incentives for alternative energy sources, and cap-and-trade systems to limit carbon emissions.

Panelists will address such key questions as:

• Can carbon taxes reduce greenhouse gas emissions without seriously harming the U.S. economy?
• What would be the distributional burden of tax and other policies that raise energy prices? How could lower-income families be protected?
• What should be the relative roles of higher energy taxes and tax incentives for conservation and alternative energy sources in addressing climate change?
• How do energy taxes and cap-and-trade systems compare in effectiveness, distributional impact, and political feasibility?

Lunch will be provided at 11:45 a.m. The forum begins promptly at noon.

Seating is limited. To RSVP, e-mail paffairs@ui.urban.org , call (202) 261-5709, or register online