The Biden administration has committed to reducing US greenhouse gas emissions to half of 2005 levels by 2030. To help meet that goal, the Democratic fiscal strategy relies heavily on increased infrastructure spending financed by higher corporate and individual income taxes. This proposed policy focuses on subsidizing alternative energy sources and conservation rather than relying on carbon pricing. What are the pros and cons of this approach, and is the strategy adequate to achieve targeted emissions reductions?
On October 27, ahead of the 2021 United Nations Climate Change Conference in Glasgow (October 31 to November 12), the Urban-Brookings Tax Policy Center and the Brookings Institution Center on Regulation and Markets will bring together climate and tax policy experts to examine recent proposals for US energy tax policy. Catherine Wolfram, deputy assistant secretary for climate and energy economics at the US Department of the Treasury, will share her perspective on the Biden administration’s climate strategy. Following her keynote, an expert panel consisting of Gilbert Metcalf, Carole Nakhle, Sanjay Patnaik, and Kurt Van Dender and moderated by Thornton Matheson will further discuss the United States’ approach to energy tax policy.
Gilbert Metcalf, John DiBiaggio Professor of Citizenship and Public Service and Professor of Economics, Tufts University
Carole Nakhle, Founder and Chief Executive Officer, Crystol Energy
Sanjay Patnaik, Director of the Center on Regulation and Markets, Brookings Institution
Kurt Van Dender, Head of the Tax and Environment Unit, Organisation for Economic Co-operation and Development
Catherine Wolfram, Deputy Assistant Secretary for Climate and Energy Economics, US Department of the Treasury
Thornton Matheson, Senior Fellow, Urban-Brookings Tax Policy Center (moderator)
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