Wonkbook: Why we should all embrace a fantastic GOP proposal to save the planet -- by Larry Summers

By Lawrence H. Summers Ideas should be judged by their quality, not their pedigree. I am not usually a fan of Republican tax policy proposals or environmental initiatives. But I strongly support the proposal put forward Wednesday by Republicans George Shultz, James Baker, Martin Feldstein, Hank Paulson, Greg Mankiw and others for a substantial carbon tax …   The latest economic and domestic policy from Wonkblog   Steam rises from the stacks of the coal-fired Jim Bridger Power Plant outside Point of the Rocks, Wyo., in March 2014. (Jim Urquhart/Reuters) By Lawrence H. Summers Ideas should be judged by their quality, not their pedigree. I am not usually a fan of Republican tax policy proposals or environmental initiatives. But I strongly support the proposal put forward Wednesday by Republicans George Shultz, James Baker, Martin Feldstein, Hank Paulson, Greg Mankiw and others for a substantial carbon tax in the United States to address global climate change. Their proposal that the carbon tax be coupled with a mechanism for rebates to consumers, a rollback of command-and-control regulation, and a border adjustment mechanism is also sound. The United States has a moral and a prudential obligation to lead on global climate change. There would be no clearer sign of our commitment than the introduction of a substantial carbon tax. Our adoption of a carbon tax would encourage others to follow. The border adjustment mechanism would be a further inducement since foreign countries would presumably prefer their carbon emitters pay them than pay us. And because a carbon tax is easy to change it would enable us to be responsive to new developments in the science of global climate change. Some of my friends may not completely agree. Read the rest on Wonkblog. Top policy tweets Expert: @KellyannePolls plea to "buy Ivanka's stuff" a "clear violation of rules prohibiting misuse of public office"https://t.co/8mBI4056so ADVERTISEMENT   — Christopher Ingraham (@_cingraham) February 9, 2017 Trouble in taxland? Sen. David Perdue writes letter to colleagues opposing a centerpiece of the House GOP tax plan. https://t.co/GOe1bBC8ZA — Sahil Kapur (@sahilkapur) February 9, 2017 Appointing a hawk to lead the Fed seems like one of the easiest ways for Trump to to ruin his re-election chances https://t.co/5Jo6uPL53A — Jordan Weissmann (@JHWeissmann) February 9, 2017 Major patients groups (cancer, diabetes, heart, liver) aligning against continuous coverage in ACA bill: https://t.co/kFv6oDfFCs @levfacher — Dylan Scott (@dylanlscott) February 9, 2017 .@stuartmbutler has my fave new Ocare metaphor/catchprase; suggests R's should talk about an ACA "Extreme Makeover" (It's "more Trumpian!") — Erin Mershon (@eemershon) February 9, 2017 Most Recent Posts from Wonkblog Larry Summers: Why we should all embrace a fantastic Republican proposal to save the planet It is hard to know how the Trump administration, which has flirted with climate denialism and has been less than embracing of traditional Republicans, will react to the proposal. By Lawrence H. Summers  •  Read more »   Judge blocks $54 billion Anthem-Cigna health insurance merger "The evidence has also shown that the merger is likely to result in higher prices, and that it will have other anticompetitive effects," the judge wrote in her decision. By Carolyn Y. Johnson  •  Read more »   Interest in ‘fascism’ surges in the Trump era Google searches reflect anxiety over the president. By Christopher Ingraham  •  Read more »   The unanswered question in Trump’s announcement of a $7 billion Intel investment The news has some analysts questioning whether the company would have made the investment anyway By Ana Swanson  •  Read more »   Nordstrom broke the curse of the Trump tweet "The president is not seen as having any particular expertise on fashion." By Danielle Paquette  •  Read more »   What we get wrong about mass imprisonment in America The road of reform is a relatively harder one to walk. By Keith Humphreys  •  Read more »   ADVERTISEMENT   Recommended for you   Today's WorldView What's most important from where the world meets Washington, plus the day's most essential reads and interesting ideas. Sign Up »         Share Wonkbook:       Twitter      Facebook Trouble reading? Click here to view in your browser. You received this email because you signed up for a Wonkblog newsletter. For additional free newsletters or to manage your newsletters, click here. We respect your privacy. If you believe that this email has been sent to you in error or you no longer wish to receive email from The Washington Post, click here. Contact us for help. ©2017 The Washington Post, 1301 K St NW, Washington DC 20071