Tax credits for carbon offsets

Change in tax law, offering tax credits for the offsetting of carbon emissions.

This program would be three-fold. First being the exchange of personal offsets in exchange for tax credits (both individual and business). The second would be the transfer of credits from the IRS to a carbon broker and lastly then the credits would be traded on the Chicago Climate Index. The third aspect of the program would take the revenue generated from the sale of the carbon credits and use the monies to fund public transportation throughout the US.

Phase 1: Throughout the year a person or company would accumulate their carbon offsets, these including:

• Solar panels
• Green roofs
• Transit, bus passes and trains
• Planting trees
• Wind turbines
• Green remodels

The credits could be managed on a website i.e. www.trackmyoffset.com, then when tax season came around said person could print out offsets and take them to the tax preparer. The individual would receive a percentage of the money back as a tax credit and the IRS would take the offsets.

Phase 2: The IRS would take the carbon offsets and transfer them to a carbon management company; they would organize them and then trade them on the Chicago Climate Index.

Phase 3: The monies generated from the sale of the offsets would be placed within a fund to create future transit projects throughout the US.