Protecting Jobs And The Environment: The Need For Green Tariffs

Congressional democrats and the Biden administration are seeking to pass a $3.5 trillion tax-and-spending bill. In recent days, the Washington Post reports, Democrats have proposed many new policies and tax credits. These policies are designed to spur clean energy production, reduce carbon usage, and encourage Americans to buy environmentally friendly autos. The plan includes a system of incentives that would pay power companies for reducing their emissions and penalize those that do not. These proposals are aimed at helping to achieve the President’s goal of a carbon-free electricity sector by 2035.

But for the goal of reducing global warming, bills focused on a nation’s internal activities do not do enough to reduce climate emissions caused by global supply chains. A fifth of carbon dioxide emissions come from multinational companies’ global supply chains. Offshoring manufacturing produces an increase of emissions as nations with low-cost labor do not perform well in

Keep reading this article on Forbes Business.

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