Most Americans agree that our country must do more to achieve energy independence and to produce cleaner sources of energy. There are steps
we need to implement over time to change the way we use energy and reduce our use of some types of carbon-based fuels. But if a radical
proposal being organized by the President and liberals in Congress becomes law, American families and businesses will see tax hikes, skyrocketing energy costs and fewer jobs.
Under the guise of creating environmentally responsible “green” jobs,
the Obama Administration has proposed a policy known as “cap and trade.”
Under such a system, American companies would be required to limit the amount of carbon dioxide their operations emit. Any company that
exceeds their dictated emission limit will have to purchase or trade credits with other companies that have excess credits available. While
this might sound good on the surface, the reality is that this proposal will result in a $624 billion energy tax that will most certainly be passed along to the consumer.
While the impact of cap and trade on our environment will most likely be inconclusive and debatable, the devastation to our
economy will not be. The burden on U.S. manufacturers will force many of them to shut down their American operations and relocate to countries
with far less stringent environmental regulations. In effect, cap and trade will cause America to export jobs. Experts estimate we will be
exporting anywhere between two million and seven million jobs at a time of high unemployment in our own country.
If this misguided policy is adopted, it will cause the average family to
pay more than $3,100 in additional energy costs eachyear. And the hardest hit will be low income families. Experts agree these families
spend a greater percentage of their income on energy consumption than any other income category. So while every American family will pay more
in energy expenses, struggling households will be disproportionally impacted.
Fortunately, there is a common sense alternative known as the American Energy Innovation Act. This approach promotes the use of cleaner energy
resources, such as natural gas, reduces our dependence on foreign oil and encourages greater efficiency and conservation. In addition, this
proposal creates jobs and promotes clean energy made by American workers without calling for tax increases. I am convinced that this is both
the environmentally, as well as economically, responsible way to proceed.
In these uncertain times, policies like cap and trade are exactly the wrong way to proceed. Raising taxes and energy costs and putting
Americans out of work are not the answer to our economic challenges. That’s why I will continue to support policies that encourage greater
efficiency, conservation and promote the use of clean fuels and alternative sources of energy without raising taxes. Energy
independence and good environmental stewardship are both important national priorities. We should pursue them in ways that have been proven to work. And cap and trade does not meet that test.
