Cap-and-Trade Energy Taxes Kills Jobs

Environmental extremists keep pushing cap-and-trade energy taxes in a blatant attempt to control the energy sector and pilfer nearly $1 trillion from the private sector.

• The U.S. House of Representatives passed the Waxman-Markey cap-and-trade bill on June 26, 2009.  The U.S. Senate has been unable to pass companion legislation but they continue to try.

• According to the nonpartisan Congressional Budget Office, the Waxman-Markey bill would increase government revenues by $846 billion.

• Politically vulnerable companies would be forced to buy permits in order to stay in business.  They would have to pass these costs along to you, the consumer.

• The National Association of Manufactures and the American Council of Capital Formation conducted an intensive study and found that by 2030 the Waxman-Markey bill, if passed, would:

o Destroy between 1.8 and 2.4 million jobs
o Drive up electricity prices by up to 50 percent
o Hike gasoline prices by up to 26 percent

• In addition to the national efforts, cap-and-trade advocates are working to ensure states are involved in three regional cap-and-trade energy tax programs.

For more information on Waxman-Markey and cap-and-trade, visit:
• http://blog.heritage.org/?p=36369
• http://www.aei.org/outlook/100057

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