Don't Let Congress Raise Taxes on Your Fuel -- Take Action Today! The American Clean Energy and Security Act of 2009 (ACESA), also called
the Waxman-Markey cap-and-trade bill (H.R. 2454), is one of the latest pieces
of hasty legislation from Congress that will result in a hidden tax on numerous
forms of energy, including gasoline, diesel, jet fuel and home heating oil.
This flawed cap-and-trade bill will hurt small businesses, farmers, truckers,
and families – in the process destroying jobs, and damaging our already
troubled economy.
Who Will It Hurt?
While supporters of cap-and-trade tout the bill as a step towards cutting
carbon dioxide emissions from our atmosphere, everyone – from farmers
to truckers to airline pilots to small businesses – will end up footing
the bill for this poorly designed legislation. Prices for gasoline, diesel,
airline fuel, and home heating oil will increase – even though the
Government's own data shows that this hidden tax will produce almost no reduction
in CO2 emissions from the transportation sector. Farmers, truckers, delivery
services, small businesses, freight haulers, airlines, railroads, shipping,
and others would face higher fuel costs because of this hidden tax, which
could limit an economic recovery that just might be on the horizon.
Nearly everyone agrees that the Waxman-Markey cap-and-trade bill will cost
American jobs. According to the non-partisan Brookings Institution, "Despite
the promise of green jobs, ACESA would, if enacted, inevitably depress total
employment from baseline levels. The bill would divert resources now used
to produce additional goods and services into the work of obtaining energy
from sources that are more costly than fossil fuels."
Documents recently obtained from the Treasury Department through a Freedom
of Information Act request revealed that the Obama Administration itself
is envisioning a huge cost to taxpayers and the economy from cap-and-trade.
One memo concluded that "Given the Administration's proposal to auction all
emission allowances, a cap-and-trade program could generate federal receipts
on the order of $100 to $200 billion annually." That's equivalent to as much
as $1,800 per household per year, or a 15 percent across-the-board increase
in the personal income tax. Some estimates run a $1,000 higher, or even more.
But this is only the tip of the iceberg. Beyond revenues for the federal
government, the regulatory costs that cap-and-trade would inflict on the
economy would be huge. Interestingly, the public version of the memo keeps
secret the Treasury's opinion on this aspect by noting that cap-and trade "will
raise energy prices and impose annual costs on the order of ..." [text redacted].
That's right ... the estimate from the Treasury was blacked out in
the memo released under the Freedom of Information Act. Other sources say
that the increase in energy prices could double the $1,800 figure.
Although the Waxman-Markey bill's specific provisions may be different from
the Treasury's assumptions, we now know that whatever die-hard cap-and-traders
eventually try to pass through Congress will cost us plenty.
Then Why Do It?
Congressional backers of the Waxman-Markey bill say that they are helping
the environment by curbing U.S. carbon emissions, and therefore stemming
the tide of global warming. This may sound well and good, but upon closer
examination we can see that the Waxman-Markey cap-and-trade bill actually
does very little to cut greenhouse gas emissions and help fight global warming.
Ignoring the fact that China and India, two colossal emitters of greenhouse
gases, have refused to regulate their own emissions, the federally-run Environmental
Protection Agency admits that certain measures of this bill, such as placing
a hidden tax on transportation fuels, are unlikely to accomplish much in
the way of cutting the release of CO2.
What Can We Do About It?
Plain and simple, the Waxman-Markey bill is the wrong way to address this
country's emissions issues. Furthermore, the legislation's hidden tax on
transportation fuels that families, farmers, truckers and small businesses
rely on everyday is damaging to this economy. When businesses are fighting
to remain solvent, shouldn't Congress avoid an oppressive, overreaching bill
such as this?
We must protect the nation's taxpayers, consumers, and businesses from the
irreparable harm that Waxman-Markey would cause. Here's how you can help:
1) Contact your Senators and let them know that the Waxman-Markey bill is
bad for America. To do so, click
here.
2) Then, be sure to spread the word to your friends, neighbors, and relatives
about the dangerous Waxman-Markey bill. To send this message to others, click
here.
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