Budget watchdog pans New York's proposed carbon tax plan
Citizens Budget Commission says it would cost businesses and consumers billions. Environmentalists disagree. By Rick Karlin , Staff Writer Oct 29, 2024 A well-known budget watchdog group is taking aim at plans for New York to enact a carbon tax designed to reduce air emissions, saying it is unrealistic as written. ALBANY — A leading budget watchdog group is leveling criticism at the carbon tax state policymakers are designing to fight global warming. The Citizens Budget Commission, in a recent report, contends that New York’s incipient Cap and Invest program is unrealistic and could cost businesses and consumers billions of dollars a year. Supporters of the plan, though, say it’s a tool needed to pay for the ambitious goals of removing carbon emissions from the economy to fight climate change. The state Department of Environmental Conservation and the New York State Energy Research and Development Authority are scheduled t...