GM, Ford Among Companies Funding Carbon Tax
Dec. 19, 2019—More companies from across the corporate spectrum are joining a long-shot advocacy effort to pass a carbon tax, reported Axios.
General Motors, Ford, IBM and two electricity companies are investing in a lobbying campaign that would put a price on CO2 emissions and refund revenue back to consumers.
General Motors, Ford and IBM each gave $100,000 to the campaign this year, while Vistra is giving $1 million over two years.
The groups’ proposal would impose a $40-a-ton tax on CO2 emissions and cut U.S. carbon emissions in half by 2035.