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Senator Markey introduces legislation for carbon taxes on private luxury jets 

July 10, 2023

A legislative bill to tackle climate change while reducing social inequity was introduced by Senator Ed Markey. This bill would levy an excise tax of $1.95 per gallon on jet fuel for private jets.

The proposed tax is in the range of a carbon tax based on the social cost of carbon (the social cost of carbon is $.05-$.20 per kg, and there are 12kg CO2 per gallon, so an appropriate carbon tax should be in the range of $.60 to $2.40 per gallon).

A recent study has demonstrated that instituing carbon taxes focused on luxury items can have the same or greater climate benefit than an evenly assessed tax, while preventing the social inequities of a wide tax.

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