A GROUP of prominent Republicans brought a refreshing message to Washington on Wednesday: Climate change is a threat that deserves serious attention, and the GOP should embrace smart ways of dealing with it. What sorts of ways? The group — which calls itself the Climate Leadership Council and includes two former secretaries of state, James A. Baker III and George P. Shultz; two former chairmen of the Council of Economic Advisers, Martin S. Feldstein and N. Gregory Mankiw; and former treasury secretary Henry M. Paulson Jr. — has a carbon emissions-reduction plan ready to go. And it is excellent.
Instead of indulging in the fiction that carbon emissions will take care of themselves with minimal government intervention, these veteran Republican hands endorsed what economists insist is the best approach to dealing with the sprawling carbon emissions issue: a carbon tax. Put a price on the pollution, and businesses and consumers will change their behavior in thousands of ways that government regulators would not have predicted and could not have compelled. This process, driven by energy consumers, produces the largest carbon cuts for the buck. Its basic structure is also simple enough for most people to understand, and, since Congress would be writing it into the law, it could not easily change from president to president, as current regulations can.
James A Baker III served as White House Chief of Staff and United States Secretary of the Treasury under President Ronald Reagan, and as U.S. Secretary of State and White House Chief of Staff under President George H. W. Bush.
Henry Merritt “Hank” Paulson Jr. served as the Secretary of the TreasuryPTO George W. Bush. Prior to his role in the Department of the Treasury, Paulson was the chairman and chief executive officer (CEO) of Goldman Sachs. He is now the chairman of the Paulson Institute, which he founded in 2011 to promote sustainable economic growth and a cleaner environment around the world, with an initial focus on the United States and China.
Nicholas Gregory Mankiw has been an economic adviser to several Republican politicians. From 2003 to 2005, Mankiw was Chairman of the Council of Economic Advisers under President George W. Bush. In 2006, he became an economic adviser to Mitt Romney, and worked with Romney during his presidential campaigns in 2008 and 2012.
See full plan: The Conservative Case for Carbon Dividends https://www.clcouncil.org/media/2017/03/The-Conservative-Case-for-Carbon-Dividends.pdf