Inglis made the case for a “tax swap”: implementing a tax on carbon while offsetting its revenues with a reduction in income or payroll taxes. This way, Inglis said, the U.S. can unleash a wave of clean energy innovation, driving down planet-warming greenhouse gas emissions without harming economic growth. And by making the tax border-adjustable — meaning that imports to the U.S. from countries without their own carbon tax would face an import tax — Inglis said his plan would catalyze the rest of the world to tax carbon as well.