It’s Time to Cut the Hidden Climate Tax

Americans would be outraged if the federal income tax system operated like a reverse lottery—with the Internal Revenue Service randomly seizing only a subset of the population’s property and forcing others to lose their homes, while the rest of us escaped from paying anything. And yet, that is how the nation deals with the costs of climate change. Like a tax, climate change’s costs impose a burden on the economy—and on the lives and well-being of American families. So long as policymakers resist adopting sensible climate legislation, these costs amount to a hidden climate tax—and one that is imposed haphazardly on those who happen to be unlucky enough to suffer the ravages of extreme weather events and other climate-related harms. Just this past year, Hurricanes Florence and Michael tore up the nation’s coastlines, leading to billions of dollars in private property losses. According to initial estimates, just three of California’s major…

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