BIGGEST TAX in American History
In Washington, the American Clean Energy and Security Act is expected to come to a vote (if Pelosi believes that there are enough votes) TODAY. The Waxman-Markey Cap-And Trade Bill that is currently under debate would cost millions of American jobs, shrink our economy, and impose huge increases in gas prices, heating, and electric bills on U.S. families. Cap-And-Trade is an Energy Tax in disguise.
Knowing that the public won’t accept an Energy Tax, especially not in a recessionary environment, Members of Congress are trying to push the Cap-And-Trade Bill, despite the fact that most people think it has to do with regulating Wall Street than tackling climate issues.
The whole point of Cap-And-Trade is to hike the price of electricity and gas so that Americans will use less. For consumers, Cap-And-Trade means more expensive gasoline and electricity as well as net job losses in energy-dependent sectors. The effect of such a cap would be to impose rationing of coal, oil, and natural gas on the American economy.
In essence, the goal of Cap-And-Trade is to reduce emissions of carbon dioxide and greenhouse gas. The “CAP” part comes in because each company would have a limit on the amount of gas it can emit. Corporations would have to obtain a permit for every ton of carbon dioxide they release. The “TRADE” means that the companies which emit less gas can sell their extra permits to businesses that can’t reduce their levels under the required limit.
The Federal Energy Efficiency Provisions included in H.R. 2454 / S. 2191, the American Clean Energy and Security Act (a.k.a. Waxman-Markey), could save approximately $1,050 per household by 2020 and $4,400 per household by 2030, according to an updated analysis by the American Council for an Energy-Efficient Economy (ACEEE).
Americans should know that those Members who vote for this Climate Bill are voting for what is likely to be the BIGGEST TAX in American history.
Cap-And-Trade Bills are nothing short of a government re-engineering of the American economy.
In the very likely event that H.R. 2454 / S. 2191 significantly raises Domestic Manufacturing Costs and that developing nations refuse to impose similar restrictions, the American economy could experience a substantial outsourcing of manufacturing jobs to those nations with lower energy costs.
While seemingly not as time sensitive as Health Care and Financial Reform, the Cap-And-Trade Bill seems to be on a fast track as those other initiatives have stalled amid disagreements and incomplete plans.
Contact your Representatives NOW and let them know how you feel about the BIGGEST TAX in American history.
