President Obama Breaks No Taxes on Families Earning Under $250k “Pledge”
No Opposition from White House on Committee-Passed Climate Tax Bill
Today, Americans for Tax Reform (ATR) condemns the recent passage of the Waxman-Markey energy/climate bill which passed out of the House Energy and Commerce Committee last night, 33-25, with four Democrats opposing,. ATR is calling on President Obama to keep his pledge.
All of this comes without a peep from President Obama, who promised not to raise taxes on those making less than $250,000 per year. Even House Agriculture Committee Chairman Collin Peterson (D-Minn.) says that he has “40-45 votes” to take down the over $600 billion climate tax bill that will cost jobs and increase energy prices.
President Obama said on September 12, 2008 in Dover, New Hampshire:
“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
The concerns are still the same; this bill increases the price of energy and taxes all American families, not just those making over $250,000 as President Obama promised:
-Direct energy costs will go up $1,500 per year for the typical family of four.
-Even with a 26% reduction is use, electric bills will be $754 higher in 2035 than in the absence of Waxman-Markey, and $12,200 higher in total from 2012 to 2035.
-Even with a 15% decrease in gas consumption – prices will still go up! A family of four will still pay $596 more in 2035 and $7,500 more in total from 2012 to 2035.
-From 2012-2035, a family of four will see its direct energy costs rise by $22,800.
-On average, employment will be lower by 1,105,000 jobs per year. In some years, cap and trade will reduce employment by nearly 2.5 million jobs.
-Waxman-Markey will drive up the national debt 26 percent by 2035. This represents an additional $29,150 per person, or $116,600 for a family of four.
Grover Norquist, President of Americans for Tax Reform said, “It would be very helpful if President Obama would keep just one of his campaign promises and oppose this massive tax hike. If not – we have him on record and he is clearly breaking his ‘pledge’.”
 All data and numbers taken from The Heritage Foundation,Cap and Trade vs. the American Dream: The House's bill is an economic disaster that keeps getting worse, Marc Frank. March 22, 2009.