A tax of $100/ton for all carbon dioxide emissions with the revenue generated going to carbon sequestration programs that sequester an equivalent amount of carbon to taxed emissions.
The sequestration program should be an open market subject to government monitoring with penalties for fraud. Any sequestration project should be eligible to participate, and in no event shall the government give preferences to any participant.
A dollar for dollar tax credit (up to the maximum carbon tax imposed) should be available for carbon emitting businesses that create internal programs or contract with other companies to reduce emissions or sequester carbon consistent with program criteria.