Unfortunately, the energy bill (Waxman-Markey) passed the House. We need to speak up in oposition as this bill moves to the Senate.
From Heritage Foundation:
"The CBO analysis of Waxman-Markey fails to take into account all the adverse effects that will ripple through the U.S. economy if cap and trade becomes law. CBO's grossly underestimated costs means Members of Congress will be grossly misinformed when voting on the legislation."
"Regardless of the CBO's cost estimates of the Waxman-Markey cap-and-trade program, the necessary second part of the question--what benefits do the costs generate?--remains unanswered. Americans will get almost nothing in exchange for these higher taxes, and the legislation will provide nothing for future generations except more debt and less economic opportunity."
From American Solutions:
"...here’s a list of facts about how the energy tax would:
1. Reduce aggregate gross domestic product (GDP) by $9.6 trillion
2. Destroy an average of 1-3 million jobs, every year
3. Raise electricity rates 90 percent after adjusting for inflation
4. Raise inflation-adjusted gasoline prices by 74 percent
5. Raise residential natural gas prices by 55 percent
6. Raise an average family's annual energy bill by $1,500 annually
7. Increase the federal debt by 26 percent, which is $29,150 per person"
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