Bipartisan Climate Plan Would Drive Up Consumers’ Costs Without Helping Climate, Experts Say

Energy sector analysts argue that the legislation will set forth a dubious rationale for politicians to impose high carbon taxes on struggling Americans.

In an aerial view, cars travel along Interstate 80 on Jan. 16, 2024, in Berkeley, Calif. According to a report by the independent research firm Rhodium Group, greenhouse gas emissions fell by nearly 2 percent in 2023. Photo by Justin Sullivan/Getty Images

The bipartisan climate plan that’s advancing in the U.S. Senate, which would provide the first step for the United States to impose its first carbon import tax, will drive up costs for U.S. consumers while its benefits for the environment will be scarce to nil if the legislation is approved in anything close to its current form, according to energy experts.

The legislation, dubbed the PROVE It Act and which enjoys broad support, advanced out of the Senate Environment and Public Works Committee on Jan. 18 following a 15–4 vote.