Romney Backs Carbon Tax

by Kelsey Tamborrino (Politico's Morning Energy) Speaking with The New York Times' DealBook, Utah Sen. Mitt Romney said he's "very open" to a carbon tax and dividend. The Times reports that Romney pointed to Bill Gates' remarks not to "play around the edges." Gates "is suggesting a major investment at the federal level in new technology, carbon capture, perhaps, nuclear energy and so forth," Romney said, adding he was open to ideas that would make that happen, like a carbon tax and carbon dividend. READ MORE

On meeting President Biden to talk about stimulus, Mr. Romney said: “I pointed out that we’re sending a bunch of money to states that don’t need it. There are people who need the funds, small businesses need the funds. We could be spending the money, by the way, on climate change technology, on infrastructure. But to send money to places that don’t need it is really not great policy.”

“I’m very open to a carbon tax, carbon dividend, where there’s a tax on oil companies and coal companies and so forth,” he said. “The funds that are raised then go to individual taxpayers so they could meet the costs of the higher price of energy.” Bill Gates has said “don’t play around the edges,” the senator said. “He is suggesting a major investment at the federal level in new technology, carbon capture, perhaps, nuclear energy and so forth.” Mr. Romney said he was open to ideas that would make that happen. “The carbon tax, carbon dividend, is such an idea,” he said. READ MORE

Excerpt from Politico's Morning Energy: REPORT: HOUSE GOP HOLDS CLIMATE SUMMIT: Twenty-five House Republicans across the ideological spectrum attended a summit last weekend in Utah to discuss their approach to climate change in the new Congress, according to the Washington Examiner. Conservative groups including the American Conservation Coalition, Citizens for Responsible Energy Solutions and the Alliance for Market Solutions held panel events to educate members on climate change.

TAX TALK: Manchin said Wednesday that a value-added tax could be the "only tool" available for Congress to pay for its forthcoming infrastructure package, Anthony also reports. Manchin acknowledged the difficulty of selling the prospect of new taxes — "nobody likes taxes, I know that" — but said it would be crucial for Congress to pay for the legislation. He again did not rule out a hefty $4 trillion package.

"A VAT tax, basically, for infrastructure might be the only tool. Now if the public believe that the politicians will keep their hands off of it and not rob it, it might have a chance," Manchin said during a virtual American Council for Capital Formation event. "If you want to do a $4 trillion infrastructure bill over 10 years — you want to do a perpetual one — you're going to have to have an infrastructure bank that states and communities can work out of ... and match down." Merely hiking a gasoline or fuel tax is "not going to do what we need" and Congress needs to look "much broader" for options, he said. READ MORE