An act
to combat climate change through the taxation of carbon
Title I--Title of the act
1. The full name of this act is the "Fremont Carbon Taxation Act of 2017"
Title II--Taxation Procedure
1. This act shall place a tax of $20 on fossil fuel companies for every ton of carbon they extract from the ground, with the tax rising 2% each year. This means that in 2018 the tax would be $20.40, in 2019 it would be $20.81, etc.
Title III--Estimated Effects
1. I have estimated the tax to raise $112.50 billion dollars in revenue in its first year, and the amount of revenue raised will continue to go up each year as the tax increases
2. When carbon is burned, it is emitted as CO2 into the atmosphere, which is very bad for the environment. I have estimated that the tax will reduce CO2 emissions by 250 million metric tons in its first year of implementation, and the amount of CO2 emissions reduced will continue to go up each year as the tax increases.
3. I made these estimations by comparing this carbon tax to a real life carbon tax proposal using proportions. I deduced that because a $16 carbon tax would reduce emissions by 200 million metric tons in its first year, a $20 carbon tax would reduce emissions by 250 million metric tons in its first year. And because a $16 carbon tax would raise $90 billion in revenue in its first year, a $20 carbon tax would raise $112.50 in revenue in its first year.
Title IV--Implementation
1. All titles of this act will be immediately implemented after the passage of this act into law.
