• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • The Cap and Trade Boycott Continues

    For the second day, Republican Senators boycotted the scheduled markup of the Kerry-Boxer (S.1733) cap-and-trade bill. Senator Inhofe (R-OK) appeared briefly to emphasize that the minority is holding firm to their demands that the Environmental Protection Agency complete a comprehensive economic analysis.

    Rather than use a procedural gambit to trounce the rights of the minority, Senator Boxer announced the committee would receive a briefing from committee staff on the actual provisions of the latest version of the bill. That is certainly not objectionable, but common sense suggests a thorough understanding of the legislation would be a prerequisite for a markup.

    In addition, just as Senators prepare to gain a better understanding about the legislation, Senator Rockefeller (D-WV) hinted, “some people are talking about not doing it [global warming] until after the 2010 election.” Senator Olympia Snow (R-ME) went as far to say, “Obviously, it’s not an issue we will be readily addressing this year.”

    While some Members will inevitably allocate time to the 2010 elections, the focus will still be the economy. Senator Evan Bayh (D-IN) stressed that “jobs should be our top priority and we shouldn’t do anything that detracts from that.” Representative Bob Etheridge (D-NC) echoed Senator Bayh’s remarks, saying, “Three things ought to be the top priority: jobs, jobs and jobs.”

    There’s one thing cap and trade will not do and that’s “save or create jobs.” It will destroy them. Our preliminary analysis of the Boxer-Kerry cap and trade legislation kicks 1.8 million people into the unemployment line as soon as 2012 and ultimately raises unemployment by over 2.7 million.

    Even the EPA’s analysis under the most generous assumptions did not project a green economic stimulus. Out of the groups that came to The Heritage Foundation to explain the economic results of their respective cap and trade models (including the Environmental Protection Agency, the Energy Information Administration and the Congressional Budget Office), there was no disagreement on how cap and trade would affect employment. Higher energy prices will put a chokehold on the economy – causing fewer jobs and lower income.

    Dan Holler co-authored this post.

    Posted in Energy [slideshow_deploy]

    3 Responses to The Cap and Trade Boycott Continues

    1. Freedom of Speech, T says:

      2010? How about trashing cap n'trade entirely? It is not going to be any better for jobs in 2010 than it is now. It will NEVER be better for jobs.

      Just to hear some Democrats finally say the main priority is jobs proves there is hope. How they go about trying to create jobs is the disaster.

    2. Don't Cap and T says:

      Learn the facts about the Cap and Trade Legislation and sign the petition at:

      Missouri: http://www.dontcapandtradeourjobsMO.com
      West Virginia: http://www.dontcapandtradeourjobsWV.com
      Indiana: http://www.dontcapandtradeourjobsIN.com

    3. Hal Metzger, Scottsd says:

      The Cap and Tax bill that passed the

      House was just the first step in Obama's drive to set the stage for signing the Copenhagen Accords which is a world-wide scam to "save the planet". It will enrich the progenitors of this scheme by billions including the Wall Street gang in public trading of carbon credits that the Al Gore perceived as his pathway to the ultra rich elite.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.