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Optimizing Tax Strategies to Reduce Greenhouse Cases Without Curtailing Growth

Author

Listed:
  • Roger E. Brinner
  • Michael G. Shelby
  • Joyce M. Yanchar
  • Alex Cristofaro

Abstract

Increasing federal gasoline taxes is one of the policy options available for reducing gasoline consumption and the resulting carbon dioxide (CO2) emissions that contribute to global warming. At the request of the U.S. Environmental Protection Agency (EPA), DRI/MeGraw-Hill (DRI) estimated the levels of gasoline tax that would be necessary to stabilize CO2 emissions from the light-vehicle fleet over a 20-year period, and the economic impacts of such a tax. Three options for utilizing the revenues generated are examined: a reduction of the federal budget deficit, a reduction in personal and corporate income taxes, and a reduction in the emnployer paid portion of payroll taxes. Each option would yield markedly different levels of economic performance: while the first two options would result in reductions in economic growth, the third option (a reduction in the employer-paid portion of payroll taxes) would result in relatively slight negative economic impacts in the short term and positive economic impacts in the long term.

Suggested Citation

  • Roger E. Brinner & Michael G. Shelby & Joyce M. Yanchar & Alex Cristofaro, 1991. "Optimizing Tax Strategies to Reduce Greenhouse Cases Without Curtailing Growth," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 1-14.
    • Handle: RePEc:aen:journl:1991v12-04-a01
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    Cited by:

    1. Bosello, Francesco & Carraro, Carlo & Galeotti, Marzio, 2001. "The double dividend issue: modeling strategies and empirical findings," Environment and Development Economics, Cambridge University Press, vol. 6(1), pages 9-45, February.
    2. William B. O'Neil & Doria Polanía, 1993. "Impacto de un impuesto al carbono en el sector energético," Coyuntura Económica, Fedesarrollo, vol. 23(4), pages 123-135, December.
    3. Edmonds, Jae & Wise, Marshall & Barns, David W, 1995. "Carbon coalitions : The cost and effectiveness of energy agreements to alter trajectories of atmospheric carbon dioxide emissions," Energy Policy, Elsevier, vol. 23(4-5), pages 309-335.
    4. DALE S. Rothman & DUANE Chapman, 1993. "A Critical Analysis Of Climate Change Policy Research," Contemporary Economic Policy, Western Economic Association International, vol. 11(1), pages 88-98, January.

    More about this item

    JEL classification:

    • F0 - International Economics - - General

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