KEEPING THE FAITH
ACTION ALERT
June 26, 2009
More Like Bait and
Switch
The “Cap and Trade” bill,
disguised as protecting the environment is nothing more than a back door
to increase taxes on companies and working Americans doing little to
help the environment. The tax increase on businesses and added
regulations will put thousands out of jobs which will go elsewhere never
returning to this country.
H. R. 2454 – the Cap and Trade bill passed the House
late today by a vote of 219-212 with two Democrats and one Republican
not voting. The Speaker (Pelosi) does not vote except in case of a tie.
All of the Republican Congressmen from Georgia voted
against the bill joined by two Democrats Jim Marshall (G-3) and John
Barrow (G-12). Democrats Sanford Bishop (G-2), Hank Thompson (G-4), John
Lewis (G-5), and David Scott (G-13) voted for the bill. The bill now
goes to the Senate which, I have heard, may not take it up until August.
An analysis of the Waxman-Markey bill (as reported out of
the House Committee on Energy and Commerce) by The Heritage Foundation
found that unemployment will increase by nearly 2 million in 2012, the
first year of the program, and reach nearly 2.5 million in 2035, the
last year of the analysis. Total GDP loss by 2035 would be $9.4
trillion. The national debt would balloon as the economy slowed,
saddling a family of four with $114,915 of additional national debt.
Higher energy costs raise production costs. Families will suffer, as the
bill would slap the equivalent of a $4,609 tax on a family of four by
2035.
The total cost of this bill co-sponsored by
Waxman-Markey works out to an average of $2,979 annually from 2012-2035
for a household of four.
(Source for both analyses: The Heritage Foundation)
As for helping the environment:
According to climatologist Chip Knappenberger,
Waxman-Markey would moderate temperatures by only hundredths of a degree
in 2050 and no more than two-tenths of a degree at the end of the
century. This does not sound like a great deal for the next
generation--millions of lost jobs, trillions of lost income, 50-90
percent higher energy prices, and stunning increases in the national
debt, all for undetectable changes in world temperature.
Thank you for Keeping The Faith,
Sadie Fields
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