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A Practical Tax Policy to Fight Climate Change: The Utility Savings Account (USA)

image credit: Wiley Publishing - Climate and Energy Journal 2021
Jason Price's picture
Business Development Executive - East Coast Energy and Utilities Group, West Monroe Partners

Current function is the East Coast Business Development Executive for West Monroe Partners. Recent NYSERDA scholar and NYU Clean Energy and Technology Diploma recipient, completed a thesis...

  • Member since 2019
  • 67 items added with 29,678 views
  • Apr 23, 2021

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In A Practical Tax Policy to Fight Climate Change: The Utility Savings Account (USA) (Wiley Climate & Energy Journal, May 2021) the authors propose a modification to the IRS tax code to reward working class Americans to budget, plan, and pay for energy services. The reward is in the form of a pre-tax income benefit much like a health savings account (HSA), commuter benefit, and other popular and widely adopted employer-sponsored benefits. The tax modification introduces swift new behaviors toward energy use and energy-related purchasing decisions as society aims to achieve aggressive carbon reduction goals. Energy providers will reach new markets and spur innovations in energy investment; and federal and state governments can achieve carbon reduction goals while capitalizing on the acceleration of revenue from public and private investments. Influencing behaviors through tax policy  empowers Americans to make better purchasing and investment decisions, toward a cleaner energy economy and energy efficient future for future generation.

Matt Chester's picture
Matt Chester on Apr 23, 2021

What an interesting idea-- and it certainly reflects the modern reality that energy bills as as undeniably essential as medical, food, etc. Seems like a common sense evolution, kind of a parallel to internet access molding into an essential utility service 

Jason Price's picture
Jason Price on May 13, 2021

Matt, we certainly believe so. Practical is the operative word here. We analyzed the practical approach to making this viable and equitable for all working Americans. We believe a Utility Savings Account help accelerate our carbon reduction goals since we seem to be already behind the 8-ball. 

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