Cap and Tax Passes House, Moves to Senate
On June 26, 2009, The US House of Representatives passed the American Clean Energy and Security Act (HR 2454), commonly referred to as "Cap & Trade" in a 219-212 vote. The bill is currently on the Senate Legislative Calendar for consideration during this next five week session. Senate Majority Leader Harry Reid has stated that he wants to pass the legislation by the fall.
On June 26, 2009, The US House of Representatives passed the American Clean Energy and Security Act (HR 2454), commonly referred to as "Cap & Trade" in a 219-212 vote. The bill is currently on the Senate Legislative Calendar for consideration during this next five week session. Senate Majority Leader Harry Reid has stated that he wants to pass the legislation by the fall.
The bill mandates that 15% of the nation's electricity come from renewable sources such as wind and solar power by 2020. Companies will be forced to buy permits to emit carbon dioxide and other greenhouse gasses. The bill places caps on those emissions which would drive the cost of energy up on American businesses and consumers. Estimates place the cost to American families at over $3,100 per year. American jobs may be forced to move out of the US to countries where there are no caps on carbon emissions. HR 2454 also contains a provision that imposes taxes on goods imported from countries that don't match US carbon restrictions - a slap at major trade partners such as China and India - that some fear could start a trade war.
The Congressional Budget Office (CBO) came out with a study that shows the danger of this new legislation. To read more, click here.
TAKE ACTION NOW: Contact your Senators today and tell them to VOTE NO to HR 2454 and higher energy costs for American families and businesses!
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