British Columbia's world-leading climate action policies have caught the attention of the State of Oregon. Environment Minister Terry Lake has been invited to brief business and policy leaders and the Oregon legislature on B.C.'s carbon tax experience as the state considers a carbon tax as a new revenue option.
"Having Oregon ask me to describe our experience with the carbon tax is extremely gratifying because it demonstrates, once again, that other jurisdictions are closely following our climate action policies," said Lake. "B.C.'s broad-based, revenue-neutral carbon tax is working - it provides a signal in the economy to reduce greenhouse gas emissions and encourages sustainable economic activity and green jobs."
The most recent available data shows that since the carbon tax was implemented, fossil fuel consumption in B.C. has gone down by more than the national average, without affecting economic growth.
On March 19, Lake will participate in a panel discussion at Portland State University about carbon taxes. The next day, Lake will testify before a joint hearing of the Senate Finance and Revenue Committee and House Revenue Committee in the state capital of Salem on B.C.'s carbon tax experience.
They will also hear from Oregon's former state economist and chair of Portland State University's Economics Department, Tom Potowiosky. The university's Northwest Economic Research Center recently released a carbon tax study for Oregon making recommendations for an economically positive carbon tax, using B.C.'s carbon tax as a model to consider.
B.C.'s carbon tax is revenue neutral, meaning every dollar generated by the tax is returned to British Columbians through personal and business tax cuts. Since 2008, the Carbon Tax has raised a total of $3.7 billion - all reinvested into tax reductions for businesses, individuals and families.
Ministry of Environment