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Quick Hits: L.A. Mulls Global Warming Tax


Brief scrutiny of today's headlines.

Los Angeles residents can breathe easy; help is on the way.

The city is considering a new tax on motorists to combat traffic congestion and growing concerns over global warming. The aptly titled "climate change mitigation and adaptation fee" would force motorists to pay either a three percent motor fuel tax or up to a $90 annual flat fee. According to the Orange County Register, Mike Feuer, an area Assemblyman, said, "At this point the people of the Los Angeles region have just had it when it comes to traffic and air quality."

Traffic congestion -- which costs the city $9.325 billion annually -- and smog go hand in hand. But whether the proposed tax would make a significant dent in either problem remains to be seen.

What we do know is that the tax would raise about $400 million. Not enough to fund any major climate change research, but enough to float 2,666,666 Kimberly-Clark (KMB) surgical masks.
No positions in stocks mentioned.

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