impose a carbon tax of $250 per ton of CO2 on all businesses with upwards of 75 employees operating in Minnesota.

 

The purpose of this is to decrease carbon emissions within the state of Minnesota and promote the usage of fossil fuel

alternatives, such as solar, wind, and hydroelectric power. This happens because due to this tax, carbon-intensive goods

become more expensive. This incentivizes businesses to find less carbon-heavy production methods and consumers are

encouraged to buy lower-emission products due to their lesser price.

 

The justification for this is that in the year 2023, the total carbon emissions for the state of Minnesota was 80.0

million metric tons, as per data published by the Minnesota House of Representatives. Decreasing this number is vital.

If this number is lessened, it would slow the acceleration of climate change, leading to fewer extreme weather events,

cleaner air to improve the health of humans, animals, and plants, stabilize global temperatures, and improve the health

of ecosystems. It is essential that we reduce emissions as quickly as possible, due to the fact that several aspects of

climate change that are already irreversible. These effects include, but are not limited to, ocean acidification, rising

sea levels, extinction of species, and deaths of coral reefs, according to the Washington Post. Scientists from NASA

suggest a point of no return in the year 2035 if dramatic changes are not soon implemented. All of these effects would

be seen not only in Minnesota, but worldwide as well.

 

Climate change is defined as a change in global or regional climate patterns, in particular a change apparent from the

mid to late 20th century onwards and attributed largely to the increased levels of atmospheric carbon dioxide produced

by the use of fossil fuels.

 

Funding needed for this would be minimal. It would be necessary that several people would be tasked with keeping tabs on

the companies who would be subject to this law. The funding for this would be borrowed from the current budgeting of the

Minnesota Department of Revenue. After this first year, the returns from the taxation would pay back the MN Department

of Revenue and fund the jobs needed to sustain this program. The extra funds generated from this tax would be put toward

decreasing state debt and contributing to the state surplus.

 

Companies would be held accountable to paying this carbon tax with the same punishments as avoiding any other taxes. If

found not paying these taxes, these companies would be charged with tax evasion and receive several financial and legal

consequences. This includes interest on the unpaid taxes, up to 25% each month, asset seizure, criminal charges, and

loss of business licenses.

 

This bill would become effective as of 1/1/27 at 12:00 AM.