I measure the industry impacts of an environmental tax reform where a carbon tax is used to finance full or partial corporate tax integration. I find that the industry impacts of such a reform are likely to be modest (in the sense of impacts on returns on equity).

A market based approach focusing on a cap and trade system with auctioned permits would raise sums of money in the early years of the program. The Congressional Budget Office estimates the ten year revenue impact of the Clean Energy Jobs and American Power Act (S. 1733) at $854 billion for an...

It is a pleasure to address this group today. I have decided to spend my time discussing recent issues involved in setting environmental taxes in a second-best world. This is an area that has seen an explosion of research and new insights over the past decade and also an area with which many EU...

Federal tax policy provides a broad array of incentives for energy investment. I review those policies and construct estimates of marginal effective tax rates for different energy capital investments as of 2007. Effective tax rates vary widely across investment classes. I then consider...

We analyze the distributional and efficiency impacts of different allowance allocation schemes for a national cap and trade system using the USREP model, a new recursive dynamic computable general equilibrium model of the U.S. economy. The USREP model tracks nine different income groups and...