Cap and Tax Bill Passes House 219-212
The cap and trade energy bill just passed the House with only 3 hours of debate. This wonderful bill will get rid of millions of American jobs while increasing the cost of living for everyone in America. What a wonderful idea in the middle of a recession. The bill will tax businesses for carbon emmissions produced from operating their business. This means they will have to do 1 of 2 things. Either they raise prices, which hurts everyone. Or they will move their business to China, which also hurts everyone. That doesn’t help the environment, and it hurts the economy.
The cap and tax bill calls for a 17% reduction of greenhouse gases by 2020 and 80% by 2050. It is estimated that it will cost Americans $4600 a year by 2035. I have talked about the unintended consequences that this will have before, but they are pretty obvious here. It will cost American jobs and it will raise the price of energy for everybody.
In other news, the transparency offered by the Democrats is nearly unparalleled. They added 341 pages to the bill at 3 A.M. and then brought the bill up for a vote later in the afternoon. Is this the hope and change you were looking for?