The study said the carbon tax also would lower pollution by 20 percent by 2050, compared with 2006 levels, and prevents oil imports from rising. It would also shift energy markets to clean technology, a sector to which the United States has already devoted much capital, the report said.

Sebastian Rausch, an assistant professor of energy economics at ETH Zurich, co-authored the study with Reilly. The study assumed full employment and was based on an earlier Congressional Budget Office report that used a $20-per-ton carbon tax.

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Conservatives and liberals alike have recently explored the possibility of a carbon tax.

Right-leaning think tank the American Enterprise Institute (AEI) hosted informal discussions on the topic in July. GOP leadership, however, firmly dismissed the idea of a carbon tax following reports about the AEI talks.

Rep. Jim McDermott James (Jim) Adelbert McDermottSondland has 'no intention of resigning,' associate says Three women accuse Gordon Sondland of sexual misconduct Portland hotel chain founded by Trump ambassador says boycott is attack on employees MORE (D-Wash.) introduced carbon tax legislation in August, the revenue from which would be used to pay down the deficit and to offset cost increases. That proposal largely mirrors one from Sens. Maria Cantwell Maria Elaine CantwellHillicon Valley: Zuckerberg acknowledges failure to take down Kenosha military group despite warnings | Election officials push back against concerns over mail-in voting, drop boxes Bipartisan senators call for investigation of popular fertility app The Hill's Coronavirus Report: Mike Roman says 3M on track to deliver 2 billion respirators globally and 1 billion in US by end of year; US, Pfizer agree to 100M doses of COVID-19 vaccine that will be free to Americans MORE (D-Wash.) and Susan Collins Susan Margaret CollinsGraham: GOP will confirm Trump's Supreme Court nominee before the election Gardner signals support for taking up Supreme Court nominee this year Tumultuous court battle upends fight for Senate MORE (R-Maine).