The World Bank reports that 15 countries currently have successful carbon taxes in place similar to what I-732 would create in Washington State. The tax applied to carbon in these countries ranges from $5/ton in Chile to $168/ton in Sweden.
- The closest country to Washington, British Columbia has a $30/ton carbon tax
- Sweden has the highest carbon tax in the world of $168/ton a price achieved largely through an environmental tax reform policy similar to I-732
- Sweden’s environment minister says “Our carbon emissions would have been 20% higher without the carbon tax”
- I-732 would implement a $25/ton carbon tax that grows over time at 3.5%/year + inflation to maintain revenue neutrality while carbon emissions decline.
- 81% of experts agree that carbon taxes are the most economically efficient strategy we have to reduce carbon pollution.
- That is a huge majority compared to the 13% who argue targeted investments and subsidies are more efficient.
- We need new carbon taxes, and Washington State can lead the U.S. towards the best carbon reduction mechanism we have by voting yes on I-732 in November.