A final note about cap-and-trade auction revenue in Obama’s budget.
I know some folks (see Sean) object to the whole notion that climate policy should be viewed as a means of raising (and spending) revenue. And there are good policy reasons to fear the conflation.
Still, political reality being what it is, I can’t help but think this is a stroke of genius. What you’ve got now is a tax cut for 95% of American workers, paid for by wealthy industries and individuals. It’s flipped the “war on the poor” attack on cap-and-trade completely. Now blocking carbon legislation is a war on the poor.
"Mr. Inhofe, why do you oppose a tax cut that will help so many hard-hit Oklahoma families? Whose interests are you defending?"