With little fanfare, President Obama is sneaking carbon emission trading in the back door: he’s planning to addict the US to revenues generated by selling carbon permits to fund his expanded healthcare, environmental, and educational agendas.
According to the New York Times:
His administration will attempt to close the large fiscal gap even while starting a major health-care initiative meant to substantially extend coverage; to do so, it foresees increasing taxes on the wealthiest Americans and using revenues from a new program: selling carbon credits to manufacturers as part of a cap-and-trade plan meant to slow climate change.
Now we have a time-line. Elsewhere in the Times, it is reported that:
… the 2012 projections include revenues from a source that does not yet exist: a carbon dioxide cap-and-trade system.