The optimal design and operation of static polygeneration systems using coal and biomass to coproduce power, liquid fuels and chemicals is studied under different economic and policy scenarios. A mathematical model including material and energy balances, capital cost estimations, and economic analyses is proposed. Optimal product portfolios are obtained under different product price scenarios. The influence of different carbon tax policies on the optimal production strategy, such as the implementation of carbon capture and sequestration (CCS) or biomass usage, is also discussed.