The Senate is where the US climate policy will live or die. While the Biden administration has not come out opposed to carbon pricing, it hasn’t come out fully embracing it either. Carbon pricing may be a piece of the climate policy puzzle but without a clear declaration in its favor from the current administration it is hard to see how it could be among the primary instruments at the moment. Moreover, we see a decline in democratic enthusiasm for it due to concerns over environmental justice, and increasing support for alternatives like revisioning the investment/production tax credits or the Clean Energy Standards.
Marc Hafstead, Fellow and Director Carbon Pricing Initiative, Resources for the Future. From his speech at the launch webinar of WCP “Carbon pricing as a win-win solution for a green recovery” held on 18th March 2021