ATR released the following press release opposing the recent passage of the Waxman-Markey cap-and-trade bill:
ATR Condemns House Passage of Democrat National Energy Tax Bill
U.S. House Passes H.R 2545, the cap-and-trade bill by 219-212
WASHINGTON, D.C. – Today Americans for Tax Reform (ATR) President Grover Norquist condemned the passage of H.R. 2545, the “American Clean Energy and Security Act” also known as “cap-and-tax” or the National Energy Tax bill.. The bill passed 219-212, with 211 Democrats siding with Nancy Pelosi to support the broadest tax increase this year. Eight Republicans crossed party lines to support the Democrat bill.
ATR notes American citizens can look forward to the following as a result of this vote:
• Direct energy costs will go up $1,500 per year for the typical family of four.
• Even with a 26% reduction in 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.
“Every member who voted for this massive tax on every single American family just committed a criminally stupid and politically dangerous act,” said ATR president Grover Norquist. “Americans might forget a vote to regulate some business in the mid-West, but once a month they will be reminded of this vote when they get their increased utility bill.”
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