|Action||Reduce and Cap Carbon Dioxide from Fossil Fuel Fired Electric Power Generating Facilities (Rev. C17)|
|Comment Period||Ends 4/9/2018|
Pass Cap and Trade Policy
The policy approach of cap and trade will create the desired result of reduced carbon emissions in the most cost-effective way for businesses. Unlike using a carbon tax to reduce emissions, using market-based approaches to address climate change issues creates policies that are more politically feasible to pass. According to Duke University professor and Ph.D. Student, Tim Profeta and Brigham Daniels, cap and trade will provide both certainties for businesses about environmental regulations but also certainty about the effects on the environment the policy would create. One possible improvement to the current policy could be to expand cap and trade markets across state lines as more neighboring states put policies like these into effect. Doing this not only increases competition but would be for the better overall good of the environment.