LPDD

Pathway 2.

Cross-Cutting Approaches to Reducing Emissions → Carbon Pricing

2.1.5 Proposed Carbon Pricing Schemes (US)

LPDD Recommendation: “Congress should consider adopting a carbon tax that begins at $25 per metric ton, increases over time based on rising damage from climate change, and the revenues from which are spent for some combination of economic efficiency, income redistribution, and climate policy purposes.”

Virginia proposed RGGI regulation

State Agencies
A proposed ‘Regulation for Emissions Trading’ was approved by the Virginia State Air Pollution Control Board. The regulation proposed a a system that would be in line with many of RGGI’s major design features, with the aim to link with RGGI by 2020.

Washington’s defeated Initiative 1631

State Legislatures
Would have enacted a carbon emissions fee of $15 per metric ton of carbon beginning on January 1, 2020, and increased the fee by $2 annually until the state's greenhouse gas reduction goals were met.

Oregon’s defeated cap and trade bill

State Legislatures
Oregon’s House Bill 2020 proposed a statewide cap-and-trade program starting in 2021, with a declining allowance budget leading to a 45% reduction in GHG emissions below 1990 levels by 2035.

New Mexico Climate Change Task Force

State Agencies
New Mexico established a Climate Change Task Force to evaluate strategies and policies to reduce GHG emissions, including the adoption of a comprehensive market-based program that sets emissions limits to reduce CO2.

PJM carbon pricing study

Regional Transmission Organizations
PJM, an independent system operator in the mid-Atlantic states, has proposed to study the effects of a carbon price on wholesale markets.

NYISO carbon pricing proposal

Regional Transmission Organizations
Carbon Pricing Straw Proposal would reflect the cost of carbon emissions in wholesale energy market offers via a “carbon charge.”  

Carbon Costs Coalition

States and State Governments
A group of state legislators from 12 states devoted to accurately accounting for the cost of carbon pollution.

IWG Social Cost of Carbon

Individual Agencies
The Interagency Working Group Social Cost of Carbon’s 2013 update gave four updated SCC estimates for 2020 at $12, $43, $64, and $128 (2007$) based on different integrated assessment models.