A new study suggests that tax on carbon emissions from households will bring in more job opportunities.
According to the study conducted by Regional Economic Models, tax on carbon-dioxide content of fossil fuels starts from $ 10 per ton that gets increased every year. Revenue from these taxes gets returned to households as direct payment and hence by recycling the generated revenue 2.1 million jobs can be added each year.
Further the report says 13,000 lives can be saved every year by improving the air quality. All over the world government is taking reformed steps like new regulatory laws on carbon emission from power plants in order to prevent future calamities.
Obama administration last week unveiled new regulations from the Environmental Protection Agency limiting carbon emissions from power plants.
The announcement comes in the wake of recent reports from National Climate Assessment that the impact of climate change is already being felt across the nation in the form of severe drought, rising sea levels, extreme weather, wildfires and heat waves.
Carbon tax that revenue back to households by adding millions of jobs is an alternative opportunity people can think upon.
“Detractors have said that a carbon tax will kill jobs,” said Mark Reynolds, executive director of Citizens Climate Lobby, which commissioned the study. “The REMI study turns that assumption on its head.”