Wednesday, June 24, 2009

Waxman-Markey Cap and Trade Bill Fiasco

Jane Van Ryan brought this to my attention yesterday. It seems that two of the most liberal congressmen in America want to rush
an expensive cap and trade bill through Congress. Go figure. We've been through this before and here we go again. Cap and trade in any form is a tax increase, in my opinion. It doesn't even work to reduce emissions as promised and it threatens the economy. The Club For Growth stated:

This bill would set up several new government programs and regulations, redistribute money in the form of subsidies to individuals and for corporate welfare payments, and perhaps worst of all, it would slap "carbon trade barriers" on any country that doesn't implement a climate change scheme similar to this proposal. And, according to the Heritage Foundation, the direct and indirect taxes on a family of four would reach almost $3000 per year if Waxman-Markey passes. Heritage also reports that, in the aggregate, GDP would drop by over $9.4 trillion with unemployment increasing by 2.5 million. This bill should be vigorously opposed.

And from Jack Gerard of the American Petroleum Institute:

As independent analysis suggests, this legislation will drive up consumer prices for gasoline and other fuels. At today’s prices, it would mean gasoline at more than $4 a gallon. It also will create huge disincentives for the production of America’s abundant natural gas resources, and force jobs and productive capacity overseas.

We know that environmentalists want higher energy prices (particularly fossil fuels) in order to make alternatives attractive...even if it wreaks havoc on our economy. E-mail your congressman today and urge him or her to vote NO on Waxman-Markey (HR 2454).


Harrison said...

The funny thing is the DOT head said you don't raise the gas tax now because we're in a recession... this was very recently he said this... but Cap-and-Trade is ok because it has a cool name.

The_Chef said...

Got a reference number for this bill?

VH said...

Hey Chef,
It's the Cap and Trade Bill--HR 2454.