HB 1152 - Carbon Tax Act (Passed)

[The world will shine with light in our nightmare]

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Sponsor, please?

[JGibson]

This is an acceptable compromise that we can hopefully live with. Any concurrences or objections to this?

[VPH]

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Sponsor, please?

I'll take up the sponsorship on this important amendment.

[Associate Justice PiT]

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Sponsor Feedback: Pending
Status: Awaiting sponsor feedback

[Southern Senator North Carolina Yankee]

I generally like the idea of starting with the funding and working from there, but it does leave one to wonder that being said, do we have any idea how much a Carbon tax would bring in?

[JGibson]

I agree with this Amendment and should be included.

[Illiniwek]

I agree with this Amendment and should be included.

[fhtagn]

Would 30% be enough to cover the Renewable Energy Rebate and Subsidies Act?

I'm not sure if we have an estimate of how much this would bring in, as the link Scott provided earlier in this thread wouldn't be the best comparison for how it would work here.

[Associate Justice PiT]

     Representatives have 24 hours to object to this amendment.

[Southern Senator North Carolina Yankee]

I am going to have to object pending some answers to the questions posed by the President and myself.

[The world will shine with light in our nightmare]

The revenue number might need to be determined by the GM.

[Associate Justice PiT]

     With an objection posted we are supposed to proceed to a vote. I am willing to wait for GM input, however.

[fhtagn]

Has this been forwarded to the GM?

[Associate Justice PiT]

     For the benefit of the House, I will note that the GM team is working on this.

[Southern Senator North Carolina Yankee]

Can we get a time estimate on that process?

[Fmr. Representative Encke]

Can we get a time estimate on that process?

Another day at least, maybe more. I've PMed Scott asking for his sources.

[Fmr. Representative Encke]

A few other things:

1. It's going to be impossible to calculate this part

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so any cost analysis will be an upper bound.

2. The 'carbon, not CO2 emissions' bit is annoying because more detailed information is available on CO2 emissions than is available for, say, methane emissions.

3. VPH's amendment is going to be tricky or impossible to calculate. I might just assume that the added revenues from this cancel out the revenues lost from the rebates.

[Associate Justice PiT]

     Bumping this to keep it on the first page. I have spoken to the Deputy GM and he is still working on the numbers for this.

[Southern Senator North Carolina Yankee]

If texts are unworkable then amendments should be offered as part of this bill that correct the Rebate and Subsidy one so that we may move forward and acquire the necessary data to make this work.

[Fmr. Representative Encke]

Sorry about the enormous delay on this. Last weekend I was caught up with the election and this week I've been focusing on midterms and things. This will definitely be finished by the end of today (or very early tomorrow if I end up staying out late).

[Fmr. Representative Encke]

Here it is, finally. The uncertainty in the revenue estimate is large (tens to hundreds of billions of dollars) even without factoring in Section IV and the VPH amendment. Revenue estimates for the first year range from 20 billion to 70 billion dollars depending on how certain passages are interpreted in Scott's source.

https://drive.google.com/open?id=1aVplmKvMDYIiEWtVUlQl0f6_99-jeaSYsCqtZJrNqKM

[VPH]

Thank you so much for the calculations! It appears as if this bill will raise absolutely massive amounts of revenue while using the free market to promote environmental policy. I believe we should pass this as soon as we can.

[JGibson]

I agree with VPH's statement to have a vote on this soon.

[Associate Justice PiT]

     Before we have a vote, I should ask President fhtagn and Speaker Yankee whether they are satisfied with the current state of the bill now that we have an estimate, or if they would like to propose further amendments.

[fhtagn]

Based on the estimates and response from Encke, I would be willing to support the bill in the amended form Scott had proposed.