Washington state carbon tax poised to fail after Big Oil campaign [Reuters]
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Source: Reuters
Washington state carbon tax poised to fail after Big Oil campaign | Reuters 3 Min Read (Reuters) - Washington state was heading toward rejecting a ballot initiative to create the first carbon tax in the United States, a tally of about 80 percent of votes showed early on Wednesday, after an oil industry campaign argued it would hurt the economy. The Carbon Emissions Fee and Revenue Allocation Initiative, known as Initiative 1631, would have imposed a $15 fee on each metric ton of carbon emissions, rising $2 a year until the state’s 2035 emissions target is met. With more than two million votes counted by early Wednesday, the “no” votes were leading with 56.3 percent. The Seattle Times and other local media outlets reported that the measure had failed, although a spokesman for the “Yes on 1631” campaign said it was not ready to concede given some 540,000 ballots remained to be counted. The carbon fee aimed to generate $2.3 billion over five years for clean energy and air programs, accor
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