Big-business shift on carbon pricing unlikely to move the needle on legislation

The new shift by big business to consider supporting carbon-pricing policies will create more momentum to combat climate change, but it is unlikely to shake Republicans from their aversion to new taxes or produce a legislative breakthrough.

The U.S. Chamber of Commerce and the American Petroleum Institute this week said they support a “market-based” policy to reduce emissions across the economy, a description that leaders of both groups said could apply to a carbon tax or emissions trading program.

The groups, which have opposed carbon pricing for years, are reluctant to endorse a specific policy before legislation is being seriously considered by Congress.

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