The cap and trade bill introduced by Henry Waxman (D-CA) and Edward Markey (D-MA) and passed in the is 1,427 pages and includes much more than a cap and trade system to reduce carbon dioxide and other greenhouse gas emissions. We’ve been detailing these economically harmful provisions in our cap and trade calamities, but Kathleen Hartnett White at the Texas Public Policy Foundation provides a tremendous synopsis of the entire bill and asks many tough questions in her policy paper, A Federal Leviathan: The American Clean Energy and Security Act …
In 2007, during his presidential campaign, President Obama told Grist: I believe that, depending on how it is designed, a carbon tax accomplishes much of the same thing that a cap-and-trade program accomplishes. The danger in a cap-and-trade system is that the permits to emit greenhouse gases are given away for free as opposed to priced at auction. One of the mistakes the Europeans made in setting up a cap-and-trade system was to give too many of those permits away. So as I roll out my proposals for a cap-and-trade …
