by Richard B. Herzog (June 2009; 9 pages) The author of this article describes findings by the Congressional Budget Office and others that a carbon tax would be less costly than cap-and-trade in achieving any given level of greenhouse gas reductions. Noting there now may be political space to address cost differences between the version of cap-and-trade in the Waxman-Markey Bill (H.R. 2454) and a tax, the author says that a widened debate could lead to the incorporation of additional cost-reducing features into cap-and-trade legislation.