“Cap and Trade” is bad for America and we applaud Congresswoman Ann Kirkpatrick for courageously voting “no” against this job-killing bill. She was one of only 44 Democrats who voted “no” on a bill that would:
• Effectively amount to the largest tax increase in American history.
• Raise an average family’s energy bill by $1,500 annually.
• Raise gasoline prices by 74 percent by 2035.
• Destroy between 1,105,000 and 2,479,000 American jobs on average, per year.
• Raise electricity rates by 90 percent by 2035.
• Be equal to a tax of $846 billion from 2010 to 2019.
• Reduce GDP by 2.5 percent by 2050.
• Increase the federal debt by 26 percent, or $29,150 per person.
When a similar “cap and trade” system was implemented in the European Union, it didn’t actually reduce carbon emissions, but allowed major corporations to make big money by fixing the rules in their favor, while passing on the costs to consumers and small businesses as indirect taxes.
According to a Council of Economic Advisers’ report to the president, global concentrations of CO2 in 2100 will be almost unaffected by U.S. emission reductions unless developing countries like China and India participate.
Even with an emissions reduction of 83 percent by 2050 (which is the goal of the national energy tax), the temperature reduction would only be nine-hundredths of one degree Fahrenheit.
Let’s hope the rest of the Congress gets it right before it is too late.
David and Mary Flider