Sunday, December 9, 2007

Good Enviroment News

The Major of San Fransisco is asking the city to approve a carbon tax. If this is approved, other politicians could gather up the courage to propose more carbon taxes. From the AP article:

Mayor Gavin Newsom plans to ask voters next year to approve a "carbon tax" on businesses that he says would provide a financial incentive for conserving energy and motivating workers to use public transportation.

The ballot measure would increase the city's 5 percent commercial utilities tax by an as-yet-undetermined amount to encourage energy-saving steps by hotels, offices and other nonresidential buildings, Newsom said in a recent interview with The Associated Press.

To keep the higher rates from becoming an economic drag on the city, the initiative would carry a corresponding decrease in the 1.5 percent payroll tax on for-profit businesses in San Francisco, according to the mayor.

--Thanks to Greg Mankiw, check out his post here.

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