A tax on GreenHouse Gas (GHG) emitting products and activities will allow market forces to operate to select the most valuable and effective GHG reduction technologies. Subsidies, tax breaks and cap & trade are much less efficient that a GHG tax.
The tax should cover not only carbon-emitting products and activities but also any product or activity emitting a GHG, such as methane.
This proposal, if implemented, would have the added benefit of reducing the deficit by reducing expenditures (subsidies) and increasing revenues (via tax measures).