Print
E-mail
GOP: Dems’ Climate Bill Could Be Disastrous
Proposal May Cause Gas To Soar, Unemployment To Rise
By JOE MURRAY, The Bulletin
Any hopes President Barack Obama would use his second 100 days to build a bipartisan bridge are being dashed as the House Committee on Energy and Commerce pushes a climate control bill that contains a controversial cap-and-trade tax system.
Republicans have offered up to 500 amendments to a bill they believe will further burden an already troubled economy. Democrats, confident the bill will pass, are doing little to ease GOP concerns over the bill.
“This bill — in its current form, in its draft form, or in any form — may do more harm to our economy than any bill that will come before Congress this year and perhaps any other bill in my lifetime,” said Rep. Michael C. Burgess, M.D., R-Texas. “That is because the proposal to cap carbon and trade carbon credits hurts American economic growth without providing enough benefits for the expense.”
Under the cap-and-trade system being pushed by the Democrats, the federal government would set a limit on the amount of a pollutant that could be emitted. If a company plans to exceed the government cap, it would have to purchase credits from a company that has polluted less.
Also, as time progresses, the number of cap-and-trade permits would decrease and companies that have not sufficiently upgraded its technology would be forced to buy permits from “greener” companies.
Republicans argue such a system is a tax on energy and the additional costs will ultimately be transferred to the consumer.
“It (the cap-and-trade tax) will increase energy prices for every single American household by hundreds, maybe thousands, of dollars,” Dr. Burgess said. “In essence, it is an energy tax that will be imposed on every single American consumer. Give me one good reason why this is a good idea, given our current economic circumstances.”
Because the U.S. economy is still recovering from the deepest recession in decades, Republican lawmakers fear Democratic attempts to implement massive climate control legislation could create an economic Depression.
"You are about to embark on an episode of putting the entire American economy, which is the world’s largest, through an absolute economic wringer,” Rep. Joe Barton, R-Texas, the ranking Republican on the energy committee, said to his Democratic counterparts.
A study released by the Heritage Foundation predicted by 2035 the climate bill would Destroy 1,105,000 jobs per year on average, with peak years seeing unemployment rise by more than 2,479,000 jobs.
Energy costs would increase $4,800 a year per family of four and electricity rates would go up 90 percent, gasoline prices 74 percent and residential natural gas prices 55 percent.
To prevent the bill from crippling the U.S. economy, Republicans introduced amendments geared at providing Congress with an escape hatch should the climate bill negatively impact the economic recovery. Democrats have rejected the Republican amendments so far.
One GOP amendment would have suspended the national energy tax if the price of gasoline hit $5 per gallon and another amendment would have suspended the same tax if unemployment hit 15 percent. Democrats rejected those measures.
Foreign competition is also a concern for Republicans, as some lawmakers worry other nations, such as China and India, will not follow the strict standards being proposed by Democrats. This, in turn, would create an unlevel playing field that could hurt U.S. industry.
Rep. Mike Rogers, R-Mich., introduced an amendment requiring China and India to adopt the same industrial standards created by the climate bill. Failure to do so would prevent the Democrat’s national energy tax from going into effect. Democrats rejected that amendment, too.
“While Democrats cling to their irresponsible plan for a national energy tax on families and small businesses — even if gas prices, electricity costs and unemployment soar — Republicans will continue promoting their ‘all of the above’ strategy,” a statement read on House Minority Leader John Boehner’s, R-Ohio, Web site.
Democrats, rather, have rejected Republican concerns and herald the bill as a job producer, not destroyer.
"The legislation will create millions of new clean energy jobs, save consumers hundreds of billions of dollars in energy costs, promote America’s energy independence and security and cut global warming pollution," said House Energy and Commerce Committee Chairman Henry Waxman, D-Calif. "In support of these goals, this legislation ensures that consumers and industries in all regions of the country are protected.”
Mr. Waxman predicted his committee would finish reviewing the bill by today and it could move to the House Ways and Means Committee before coming up for a full vote in July or August. Mr. Barton shot down the notion the House Energy and Commerce Committee would be finished by today.
“He’s dreaming,” Mr. Barton said. “It ain’t going to happen.”
But when the bill does make it to the House floor, it is likely to pass. It will then head to the U.S. Senate where opposition is much stronger. The Senate might not take up the bill until 2010.
Joe Murray can be reached at jmurray@thebulletin.us
Republicans have offered up to 500 amendments to a bill they believe will further burden an already troubled economy. Democrats, confident the bill will pass, are doing little to ease GOP concerns over the bill.
“This bill — in its current form, in its draft form, or in any form — may do more harm to our economy than any bill that will come before Congress this year and perhaps any other bill in my lifetime,” said Rep. Michael C. Burgess, M.D., R-Texas. “That is because the proposal to cap carbon and trade carbon credits hurts American economic growth without providing enough benefits for the expense.”
Under the cap-and-trade system being pushed by the Democrats, the federal government would set a limit on the amount of a pollutant that could be emitted. If a company plans to exceed the government cap, it would have to purchase credits from a company that has polluted less.
Also, as time progresses, the number of cap-and-trade permits would decrease and companies that have not sufficiently upgraded its technology would be forced to buy permits from “greener” companies.
Republicans argue such a system is a tax on energy and the additional costs will ultimately be transferred to the consumer.
“It (the cap-and-trade tax) will increase energy prices for every single American household by hundreds, maybe thousands, of dollars,” Dr. Burgess said. “In essence, it is an energy tax that will be imposed on every single American consumer. Give me one good reason why this is a good idea, given our current economic circumstances.”
Because the U.S. economy is still recovering from the deepest recession in decades, Republican lawmakers fear Democratic attempts to implement massive climate control legislation could create an economic Depression.
"You are about to embark on an episode of putting the entire American economy, which is the world’s largest, through an absolute economic wringer,” Rep. Joe Barton, R-Texas, the ranking Republican on the energy committee, said to his Democratic counterparts.
A study released by the Heritage Foundation predicted by 2035 the climate bill would Destroy 1,105,000 jobs per year on average, with peak years seeing unemployment rise by more than 2,479,000 jobs.
Energy costs would increase $4,800 a year per family of four and electricity rates would go up 90 percent, gasoline prices 74 percent and residential natural gas prices 55 percent.
To prevent the bill from crippling the U.S. economy, Republicans introduced amendments geared at providing Congress with an escape hatch should the climate bill negatively impact the economic recovery. Democrats have rejected the Republican amendments so far.
One GOP amendment would have suspended the national energy tax if the price of gasoline hit $5 per gallon and another amendment would have suspended the same tax if unemployment hit 15 percent. Democrats rejected those measures.
Foreign competition is also a concern for Republicans, as some lawmakers worry other nations, such as China and India, will not follow the strict standards being proposed by Democrats. This, in turn, would create an unlevel playing field that could hurt U.S. industry.
Rep. Mike Rogers, R-Mich., introduced an amendment requiring China and India to adopt the same industrial standards created by the climate bill. Failure to do so would prevent the Democrat’s national energy tax from going into effect. Democrats rejected that amendment, too.
“While Democrats cling to their irresponsible plan for a national energy tax on families and small businesses — even if gas prices, electricity costs and unemployment soar — Republicans will continue promoting their ‘all of the above’ strategy,” a statement read on House Minority Leader John Boehner’s, R-Ohio, Web site.
Democrats, rather, have rejected Republican concerns and herald the bill as a job producer, not destroyer.
"The legislation will create millions of new clean energy jobs, save consumers hundreds of billions of dollars in energy costs, promote America’s energy independence and security and cut global warming pollution," said House Energy and Commerce Committee Chairman Henry Waxman, D-Calif. "In support of these goals, this legislation ensures that consumers and industries in all regions of the country are protected.”
Mr. Waxman predicted his committee would finish reviewing the bill by today and it could move to the House Ways and Means Committee before coming up for a full vote in July or August. Mr. Barton shot down the notion the House Energy and Commerce Committee would be finished by today.
“He’s dreaming,” Mr. Barton said. “It ain’t going to happen.”
But when the bill does make it to the House floor, it is likely to pass. It will then head to the U.S. Senate where opposition is much stronger. The Senate might not take up the bill until 2010.
Joe Murray can be reached at jmurray@thebulletin.us
 |
 |
|
| Lest We Forget: Screaming Eagles Know Freedom’s Cost | Speakers Oppose Funds For Barnes’ Move To The City |
Reader Comments
The following are comments from the readers. In no way do they represent the view of thebulletin.us.
You must register with a valid email to post comments. Only your Member ID will be posted with the comments.
Registered users sign in here: |
Become a Registered User |
