Democratic lawmakers propose border-adjusted carbon tax on key sectors

Four Democratic senators on Wednesday introduced a proposal for a border adjustment mechanism paired with a domestic carbon tax on certain emissions-heavy goods. The “ Clean Competition Act ,” sponsored by Senate Finance Committee member Sheldon Whitehouse (D-RI) and co-sponsored by Democratic Sens. Chris Coons (DE), Brian Schatz (HI) and Martin Heinrich (NM), comes amid growing bipartisan interest in developing a border adjustment tax to address climate change and bolster U.S. competitiveness -- and as other trading partners, notably the...