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Sen. Vitter and Rep. Pompeo Launch Opposition to Proposed Carbon Tax
December 5, 2012
Members of Congress are trying to hang their hats on anything that might help them avoid making any serious spending cuts ahead of the looming “Fiscal Cliff.” Among the many truly bad ideas that are being floated all in the name of raising “revenue,” as if there was any tax large enough to get us out of the hole our unbridled spending has dug, is a potential carbon tax. While past carbon tax proposals, aimed at curbing greenhouse gases, have also included components aimed at revenue neutrality and other ways to mitigate the regressive nature of such a tax, the current carbon tax talk is pure cash grab.
Senator Vitter (R-LA) and Representative Pomeo (R-KS) have introduced concurrent resolutions opposing such a carbon tax in an effort to get ahead of the harmful tax. As they state in a join press release here, a carbon tax would have a detrimental effect on taxpayers and our already struggling economy:
“There’s a lot of talk in Washington about raising taxes, and finding ‘revenues’ in creative ways, to avoid going over the fiscal cliff,” Vitter said. “But a carbon tax – which would force more financial hardship upon family budgets, energy consumers and job seekers – needs to be completely taken off the table. Our resolution would enshrine that.”
There’s virtually no part of the economy or everyday life that wouldn’t be negatively impacted by a “revenue-raising” carbon tax. For consumers it would mean higher costs on everything from food and manufactured goods to transportation and heat for the winter months ahead. This would be a massive burden on our economy and would further slow what little growth we have.
Instead of looking for quick cash gimmicks that will only hurt in the long run, Congress needs to make substantive spending cuts and reforms to put us back on the path to long-term prosperity. Higher taxes rarely bring in the revenue that was expected and at the end of the day, we’ll still be left with a growing debt and no one left to tax.
For a good reminder of just how urgently we need to cut spending and what little higher taxes will do, check out this new video from NTU.
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