Climate Bill is a Job-Killing Energy Tax on America (updated)
Washington, Jun 26, 2009 - Earlier today, I voted NO on the Waxman-Markey American Clean Energy and Security Act of 2009 or as I like to call it the “cap and tax” bill. (The House passed the bill by a vote of 219-212. It will now be sent to the Senate, for consideration.) If this piece of legislation becomes law, it could be potentially devastating to America’s economy. Waxman-Markey is nothing more than an energy tax in disguise for American families and businesses.
While claiming to reduce global temperatures by only hundredths of a degree, according to the Heritage Foundation, this bill would:
- Reduce aggregate gross GDP through 2035 by $9.4 trillion
- Destroy 1,105,000 jobs per year on average
- Increase the average per family of four costs by $2,979 per year
- Raise electricity rates 90%
- Raise gas prices by 58%
- Raise natural gas prices by 55%
- increase in family-of-four debt, solely because of Waxman-Markey, hits an almost unbelievable $114,915 by 2035
Even President Obama admitted in 2008 that cap and trade means “electricity rates would necessarily skyrocket.”
Not only is this bill bad for American families it is a huge government expansion, that could destroy our country’s economy in the process. Job losses are projected to hit 2.5 million by 2035 as result of the economic burden placed on small businesses and industry in America including thousands of job shipped overseas to China and India.
There’s no argument about the need for clean air and clean water or to protect our natural resources for ourselves, our children and our grandchildren. But the myth of “ man-made global warming,” or “climate change” as it’s now being called, is distracting us from the real government power grab imbedded in the 1,200 page Waxman-Markey bill. Regulating carbon dioxide has nothing to do with stopping real pollution, but it has everything to do with dramatically changing our way of life and causing more Americans to lose their jobs in this already uncertain economic climate.
H.R. 2454, the so-called “American Clean Energy and Security Act of 2009” is terrible for American taxpayers and contrary to the interests of American workers. It would destroy 1,105,000 jobs per year, on average, and reduce aggregate GDP by almost $10 trillion by 2035.
This “cap and tax” scheme isn’t worth the increase in energy costs, job losses or bureaucratic nightmare for a massive government intrusion into our lives that provides no meaningful benefits to us. It’s a bad deal for the American people and I am proud to have worked against its passage.
I encourage you to check out the Wall Street Journal’s analysis of this outrageous bill:http://online.wsj.com/article/SB124588837560750781.html