Biden’s Treasury Pick Backs Carbon Tax, Highlighting Broad Climate Push

President-elect Joe Biden is expected to tap former Federal Reserve Chairwoman Janet Yellen, who supports a bipartisan plan for a carbon tax, to lead the Treasury Department, underscoring Biden’s plans for a broad government-wide push to address climate change. But Yellen’s support for the carbon tax plan, which would use the proceeds to pay dividends to U.S. consumers, is controversial because it also seeks to preempt at least some existing EPA and state greenhouse gas rules, an approach that is...