Democrats considering carbon tax to help fund $3.5 trillion bill

Senate Democrats are reportedly considering a renewed push to institute a carbon tax as a means of paying for the mammoth $3.5 trillion budget bill they are attempting to move through Congress.

The alleged efforts come as Arizona Sen. Kyrsten Sinema bucks her party’s support for corporate tax increases; Sinema has also signaled an opposition to the $3.5 trillion price tag of the budget bill. 

Oregon Sen. Ron Wyden this week “confirmed that the Senate majority leader had asked him to craft legislation that would put a price on carbon emissions,” the New York Times reported.

Long hailed as an untapped source of federal revenue, a carbon tax is also seen as a potential tool for fighting what advocates say are dangerous levels of climate change that may occur both presently and in the near future.