Thompson 'Outraged' By Passage of Cap and Trade in the House

Washington, D.C.—U.S. Representative Glenn `GT’ Thompson, R-Howard, today voted a resounding “No” on H.R. 2454, the so-called “American Clean Energy and Security Act,” which he calls the “Cap and Tax” bill because of its huge taxes on all carbon-based fuels. The measure passed by a close vote of 219 to 212, with 44 Democrats voting no.

“Make no mistake, the goal of this measure is to make carbon-based fuels –natural gas, oil and coal—so expensive that we won’t be able to use them. Reducing our reliance on fossil fuels is a worthy goal, but not when we are in an economic downturn and our carbon-based fuels make up 85 percent of what we use to power this country,” said Thompson.

“This bill may be the largest tax increase in American history and it disproportionately punishes rural America and the poor who will not be able to afford the jump in gasoline prices, fuel oil, natural gas and all the items made from those products,” said Thompson. “Fertilizer for example, is produced using natural gas. Costs for agricultural products will rise and jobs will be lost. But don’t just take my words, President Barack Obama, while still a candidate, said that under his cap and trade plan utility rates would `necessarily skyrocket,’ and that those costs would be passed along to consumers.”

Thompson has several times quoted the Pennsylvania Public Utility Commission letter that he received that warns: “However, if the Waxman-Markey bill were to pass, Pennsylvania is looking at a bleak scenario by 2020: a net loss of as many as 66,000 jobs, a sizeable hike in the electric bills of residential customers, an increase in natural gas prices, and significant downward pressure on our gross state product.”

“In an admission that jobs will be lost, the bill comes with a funding section to help Americans who lose their jobs when, and if, it becomes law—if that is any comfort to taxpayers,” said Thompson.

Finally, the measure passed the House under the guise of a climate change bill to regulate greenhouse gases and lower the levels of carbon dioxide (CO2) in the U.S. and the world. But even a 15 percent reduction in carbon dioxide only would lower global CO2 by less than 4 percent, which, according to experts would have no noticeable effect on worldwide carbon levels or on global warming.

Cap & Trade is the topic of Monday's LiveLine.

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