Democrats unveil carbon border tax proposal

Sen. Chris Coons (D-DE) and Rep. Scott Peters (D-CA) on Monday introduced legislation that would establish a border adjustment measure on carbon-intensive imports, a mechanism some Democrats believe should be part of a developing $3.5 trillion budget plan. The “Fair, Affordable, Innovative, and Resilient Transition and Competition Act” would establish a border adjustment measure on carbon-intensive imports “to account for the cost incurred by U.S. businesses to comply with laws and regulations limiting greenhouse gas emissions,” according to a fact...