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Report
Revenue-neutral taxation in Washington, Oregon, and Idaho given the renewable fuel standard
Technical Bulletin (Washington State University. Extension), 40, Washington State University Extension
02/2017
Handle:
https://hdl.handle.net/2376/7306
Abstract
We assess the welfare implications of imposing a revenue-neutral carbon tax, where the use of crude oil emitting carbon is taxed and the revenues are used to supplement the reductions in revenues from a lower income tax rate or sales tax rate, in the presence of the Renewable Fuel Standard (RFS) in Washington, Oregon, and Idaho. Simulations conducted using data from Washington, Oregon, and Idaho indicate that the imposition of a revenue-neutral tax raises state welfare, an estimate of the combined well-being of producers and consumers, by 19% to 20% and increases the cellulosic biofuel sector marginally at a rate of 1% to 2%. Also, raising the input ratio requirement for cellulosic biofuel from the RFS will have little impact on state welfare and the revenue-neutral tax rate chosen by the regulator to control pollution. However, changes to the cellulosic biofuel waiver price, which can be used to circumvent the input ratio requirement, reduces the revenue-neutral tax because less pollution is emitted.
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Details
- Title
- Revenue-neutral taxation in Washington, Oregon, and Idaho given the renewable fuel standard
- Creators
- Tristan Skolrud (Author)Gregmar I. Galinato (Author)
- Academic Unit
- Publications, WSU Extension
- Series
- Technical Bulletin (Washington State University. Extension); 40
- Publisher
- Washington State University Extension; Pullman, Washington
- Identifiers
- 99900502000901842
- Copyright
- In copyright ; openAccess ; http://rightsstatements.org/vocab/InC/1.0/ ; http://purl.org/eprint/accessRights/OpenAccess
- Language
- English
- Resource Type
- Report