The 90s are over: Five reasons to embrace carbon pricing today
Trends from the 1990s have made a resurgence in today’s fashion and pop culture. But one unfortunate development from the 1990s stayed with us all along; that of politicians fearing they’ll be “BTUed,” a play on President Bill Clinton’s proposed 1993 “BTU tax,” which was a close cousin to a price on carbon emissions. Democrats in the House voted — some reluctantly — for the tax, which the Senate soundly defeated. Many House Democrats who lost their seat in the 1994 midterms blamed it on their vote for the BTU tax. This political lesson still resonates; just last week 10 Democrats vulnerable to losing seats in November chose to join Republicans in voting “no” on a carbon tax measure. This political lesson still resonates; avoid forcing congressional votes on divisive issues destined to fail. But the entrenched view that the United States will never support a carbon price is misguided. Here are five key reasons why now is the time for U.S. politicians to embrace it. Since the 1990s, many more American voters have experienced the ravages of climate change firsthand. …