Art Laffer proposes carbon tax in exchange for flat income tax, gaining support from Stephen Moore.

Economist Art Laffer, a potential Federal Reserve chair candidate under President Donald Trump, has expressed his support for a carbon tax. Laffer met with former President Trump at Mar-a-Lago and plans to suggest such a tax on emissions in return for a flat tax rate on personal income if he makes the cut. He is highly influential in Republican economic policy circles and helped shape the implementation of the Reaganomics concept. Conservative economist Stephen Moore and co-founder of the Committee to Unleash Prosperity, who have grown disillusioned with Federal Reserve Chair Jerome Powell, also supported Laffer’s idea. The meeting took place between Laffer and Moore, who previously worked with Laffer on a proposal to trade Democrats a tax in exchange for a personal income of 18 percent.