Excellent, but a bit limited. I would add a carbon content tax on imported goods and a tax credit for carbon sequestration.

A carbon content tax on imported products eliminate the incentive to export carbon intensive industries, such as concrete and nitrogen fertilizers. Additionally, a carbon content tax will nudge other countries to clean up their acts — nothing like WalMart telling a suppliers that it is going to cut the price paid to compensate for the carbon content tax. Such a content tax would defuse the free rider argument that our efforts will have no effect since foreign countries will not reduce their carbon emissions.

A tax credit for sequestered carbon would unleash our ingenuity. Nor need it be massive and high tech. Some thing as simple as cover crops sequester carbon in the soil. It also cuts down on the use of artificial fertilizers, thus reducing carbon emissions. Likewise, biochar produced from tree trimmings, mixed in with sewage sludge and worked into the soil both sequesters carbon and cuts down on the need for fertilizer.