Posted by: thepinetree on 06/26/2009 10:02 PM
Updated by: thepinetree on 06/27/2009 08:31 AM
Expires: 01/01/2014 12:00 AM
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Americans Do Not Need Higher Energy Taxes
Washington, DC - U.S. Representative Dan Lungren (R-CA), made the following statement in opposition to the Majority’s ill-conceived Cap and Trade legislation -H.R. 2454 - which will put a cap on the amount of carbon which can be emitted. Companies then buy and sell permits which allow them to emit carbon dioxide.....
“We all can agree that the health of our environment is important. However, this cap and trade bill is not the answer to weaning ourselves off foreign oil or stopping green house gasses. Depending on how the system is structured, the Tax Foundation estimates cap and trade could reduce U.S. employment by 965,000 jobs, household earnings by $37.8 billion, and economic output by $136 billion per year or roughly $1,145 per household.
“As Warren Buffet just this week repeated his criticism of "cap and trade" as a method to control pollution, saying it would be “a huge, regressive tax.”
“President Obama himself explained in 2008, “Under my plan of a cap and trade system the electricity rates would necessarily skyrocket. Coal power plants, natural gas, you name it, whatever the industry was, they would have to retrofit their operations. That will cost money. That money will be passed on to their consumers.”
“Manufacturers will ship their plants to countries with less stringent environmental safeguards, hurting American workers and the environment. During these difficult economic times, higher energy prices and massive job losses are the last thing American families need. The United States has the technological know how to create cleaner ways to power our economy. We can increase our use of nuclear power, produce more natural gas and find a cleaner way to use our most abundant natural resource, coal.
“My constituents deserve better than this massive national energy tax. We will continue to fight for a comprehensive energy solution that creates jobs, makes energy more affordable, helps clean up the environment, and ensures our energy independence. Finally, I will oppose any effort to impose a national energy tax on working families.”
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