- Investigates the causes of economic imbalances.
- Explores and develops market-based solutions.
R Street will continue work with the federal executive branch, Congress, state governments, conservative nonprofits and others to develop and promote two ideas concurrently. The first: conservatives, in particular, need more exposure to better arguments in support of pollution pricing, particularly with respect to greenhouse gasses. The second: the legislative branch must act to create a market-friendly alternative to Environmental Protection Agency regulation of greenhouse gases under the Clean Air Act.
The current regulatory regime with regard to greenhouse gases is a textbook example of economic imbalance: many emissions are not priced at all and others are priced arbitrarily by means of regulation. Greenhouse gases impose a significant externality and are what Ronald Reagan called a "destructive trespass." Pricing them appropriately in a way that reduces greenhouse gas emissions is necessary to restore economic balance. The solution we favor--pricing--is far more market-based than the alternative ways of restoring economic balance and we aim to develop it.
The scope of this project is national with a focus on selected states where we have opportunity to make progress.
(Check sent: 8/30/2016)