Congressional Letter: Carbon tax would harm U.S. industrial competitiveness with no environmental benefit

In a letter to Senator Roy Blunt (R-MO), ACCF Executive Vice President George David Banks highlights ACCF support for climate mitigation and adaptation, but opposes policies that damage the industrial competitiveness of America and harm our middle class and poor. Accordingly, it disagrees with those who promote government regulation and measures like the national carbon tax that simply aim to increase the cost of conventional energy sources. Instead, the ACCF believes that the federal government should embrace free market strategies that lower the cost of clean energy technologies so that they are competitive with fossil fuels.

Read the full letter here (PDF).

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George David Banks is Executive Vice President at the American Council for Capital Formation. He is an economist, political consultant, and policy advocate, focusing on energy, environment, and trade. Banks has published reports and opinion editorials on a variety of policy issues, including climate change, civil nuclear power, and energy markets and trade. He is also a fellow at Columbia University’s Center on Global Energy Policy and a member of the ClearPath Foundation’s advisory board. Most recently, he served as President Donald Trump’s Special Assistant for International Energy and Environment at the National Economic and National Security Councils – a position that required him to manage workstreams related to his portfolio across the federal government.