5 Claims Trump Used to Justify Pulling the US out of the Paris Agreement — and the Reality
View on Business Insider website"Factcheck.org ran Heritage’s analysis by Roberton C. Williams III, a resource economist at the University of Maryland who is a senior fellow at the economic-analysis nonprofit Resources for the Future. Williams said the Heritage estimate was correct based on the methodology the foundation used — the analysts estimated a carbon tax rate of $36, which would increase by 3% each year from 2015 to 2035. With those numbers, the US gross domestic product would take a hit of 0.55% annually through 2035.
But according to calculations done by Resources of the Future, the US could reach its Paris goals with a much lower carbon tax rate over less time (either a constant rate of $21.22 a year until 2025 or a rate that starts at $16.87 and increases by 3% each year in the same period). By those numbers, the US GDP would be negatively affected by about 0.10% to 0.35% a year from now until 2025."
