Analysis: ‘Cap and Tax’ Schemers Are Cutting Deals
By by Doug CarlsonAs the nation tries to pull itself out of financial hard times, some legislators in Washington are eagerly pushing a plan destined to further escalate the economic downturn. Their proposal: reining in carbon emissions with a sweeping global warming bill that would create a tremendous tax burden for businesses, large and small, and every American who turns on a light switch or consumes any product.
Following weeks of negotiations, Reps. Henry Waxman (D-CA) and Ed Markey (D-MA) cut a deal Friday with several colleagues on a bill to ration energy use with a cap-and-trade system. The American Clean Energy and Security Act of 2009 (H.R. 2454), as it is titled, is the centerpiece of debate this week in Rep. Waxman’s House Energy and Commerce Committee. The congressman is making every effort to reach committee passage of the bill this week.
Under the 932-page measure, industries would …
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