I would like to clarify Initiative 732, which would impose a carbon emission tax on certain fossil fuels and fossil fuel-generated electricity. The explanatory statement in the voters pamphlet does not clearly state the cost to the consumer.
What does $15 per metric ton translate to for a gallon of gas? A gallon of gas burned in a car yields 20 pounds of carbon dioxide — a metric ton of carbon dioxide is created from 110 gallons of gasoline when burned in a car. So the tax on a gallon of gas is $15/110 = $.136 tax per gallon for the tax year of FY 2018. This tax will be also applied to natural gas for home heating, any transportation that uses fossil fuels, lubrication, paper, foods, or anything that uses fossil fuels in its production.
By tax year FY 2019, the tax would be $.227 tax per gallon, and rise every year until the tax rose to the limit of $.909 per gallon. I hope this clarifies the impact this initiative will have on your finances. There are rebates to qualifying families and a sales and B&O tax reduction, but note that local retail sales tax revenues increase.
John Hanson, Richland