Carbon tax profile for Connecticut (Ruichan Shao 2005)



1990
2005
% change 1990-2005
Fossil fuel CO2 emissions in millions of metric tons [1]
41.0
43.4
+5.7%
In millions of short tons [2]
45.2
47.7
+5.7%
Population in millions [3]
3.3
3.5
+5.8%
Per capita CO2 emissions in short tons
13.7
13.7
-0.2%

Per capita emissions in Connecticut in 2005 -- 13.72 short tons/capital ---were considerably lower than the U.S. average, which was 21.4 short tons per capita [4]. And during the period from 1990 to 2005, the CO2 emissions almost remained stable, which was only reduced by 0.15%.

A carbon tax of $30 per short ton of CO2 (about $0.30 per gallon of gasoline, or about $0.03 per kWh of coal-fired power) would have raised about $1.15 billion in 2005 (about $329 per person), assuming a 20% reduction in emissions.

For comparison purpose, in 2005 the total of Connecticut state tax revenue is $9.50 billion. And there are two main source of tax revenue: [5]
1. Personal Income Tax: $5.1 billion
2. Sales & Use Tax: $3.5 billion

So a carbon tax of $30 per short ton of CO2 (assuming a 20% reduction in emissions) could have replaced 12% of the total state tax revenue, or, more specifically, could have replaced 23% of the state Personal Income Tax or could have replaced 33% of the state Sales & Use Tax.
carbon emissions




[1] EPA, “State CO2 Emissions from fossil fuel combustion, 1990-2005”, linked from http://www.epa.gov/climatechange/emissions/state_energyco2inv.html.

[2] Converter tool, http://www.metric-conversions.org/weight/metric-tons-to-short-tons.htm
.
[3] 2005 population from the U.S. Census Bureau, http://www.census.gov/popest/datasets.html.
1990 population from U.S. Census Bureau, http://www.census.gov/popest/archives/1990s/ST-99-02.txt.

[4] U.S. population of 295.6 million in 2005 from U.S. Census Bureau, http://www.census.gov/popest/states/NST-ann-est.html.
U.S. carbon emissions of 6.317 billion tons of CO2 from EPA, http://www.epa.gov/climatechange/emissions/usgginventory.html.

[5] Three Year Budget Report of Connecticut, http://www.ct.gov/opm/LIB/opm/Budget/2005MidtermBudgetBooks/2005_MidtermThreeYearReport.pdf (P32).