Carbon taxes are used to address the alleged negative externalities of fossil fuels and create an incentive against the use of those fuels.
Policymakers hope imposing carbon taxes will curb greenhouse gas emissions, but such taxes tend to cause more environmental harm than good. Solar and wind power cannot replace fossil fuel energy, and those “renewable” sources of energy cause their own forms of damage to the environment and ecosystems, including birds and bats. Carbon taxes make energy more expensive, and that makes everything more expensive.
Carbon dioxide emissions in the United States are falling dramatically. Carbon taxes won’t make that happen any more quickly, but they will hurt consumers, the economy, and the environment.