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Democrats Prep Carbon Tax Option to Pay for Spending Bill (1)

Sept. 24, 2021, 9:40 PM

Senate Democrats are developing a carbon-tax proposal that could potentially be used to offset some of the costs of a sweeping social-spending bill as well as direct cash payments to households, according to a key lawmaker.

“It’s projected that making polluters pay -- when combined with clean energy tax credits -- would lower the cost of clean electricity for Americans,” Senate Finance Committee Chairman Ron Wyden said in a statement to Bloomberg News Friday. “I’ve worked on this for years, and have continued to develop the proposal as part of my menu of options for the caucus.”

A “substantial portion” ...