ATR Energy Fact of the Day:
Cap-and-Trade Sets Unattainable Energy Standards for Many States
ATR Condemns House Passage of Democrat National Energy Tax Bill
Americans for Tax Reform (ATR) continues to oppose H.R. 2545, the “American Clean Energy and Security Act,” otherwise 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.
Fact: There are currently 14 states that produce less than 1% of their energy from governmental defined renewable sources. Cap-and-Trade mandates that this number be 10% nationally by 2012, an unachievable number.
“States will be unable to remake their entire energy industry in just three years, forcing them to penalize energy producers who will inevitably charge higher rates to consumers,” says Grover Norquist, President of Americans for tax Reform. “This is a regressive tax that affects every family and business in America; everybody will end up paying this multi-billion dollar tax.”