October 29, 2009

Oct. 29: Cap-and-Trade Bill Would Harm Families

Sent: Thursday, October 29, 2009 5:55 PM
Subject: Oct. 29: Cap-and-Trade Bill Would Harm Families

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Oct. 29, 2009  

Cap-and-Trade Bill Would Harm Families
by Kim Trobee, editor

Testimonies on cap and trade legislation describe the consequences of environmental taxes on families.

The Senate Environment and Public Works Committee is considering a cap and trade bill that purportedly takes aim at global warming.

Under a cap-and-trade scheme, the government would set a limit or "cap" on emissions of carbon dioxide. If, for example, a company goes over the limit, the government would force it to buy "credits" from other companies deemed by government to be producing less carbon dioxide than the cap allows. In countries where it has been tried, fraud has been rampant.

Sen. Barbara Boxer, D-Calif., chairs the committee and is co-author of the bill. She claims the legislation would create jobs, but that contradicts a statement made to Congress earlier this month by the director of the Congressional Budget Office that said cap and trade would cause "significant" job losses.

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