[Daily Caller] It’s been just nine days since the French government abandoned plans to increase the carbon tax on fuel, and the congressional budgeting arm is suggesting a $1 trillion tax on carbon dioxide emissions to close the budget deficit."This option would impose a tax of $25 per metric ton on most emissions of greenhouse gases in the United States," reads a Congressional Budget Office (CBO) report released Thursday. "The tax would increase at an annual inflation-adjusted rate of 2 percent."
The CBO suggested a carbon tax as one of "121 options that would decrease federal spending or increase federal revenues over the next 10 years." The CBO published several reports looking at the budgetary impacts of a carbon tax.
However, the CBO’s carbon tax suggestion comes after French President Emmanuel Macron and lawmakers were forced to scrap plans to raise fuel taxes after weeks of violent protests. Those protests also spread to Brussels, where protesters clashed with police over fuel tax rises.
Tens of thousands of protesters, called "yellow vests," took to the streets in November, sparked by a planned rise in diesel and gasoline taxes. The tax increases were part of Macron’s plan to wean France off oil and fight global warming.
