‘Cap and trade’ would end millions of jobs

5 comments June 26th, 2009

The appalling “cap and trade” bill comes up for a vote in the U.S. House Friday. Disguised as an environmental bill, this is actually a huge tax on Americans, who ultimately will pay thousands of dollars a year for the forced reduction in carbon emissions. And we don’t even know if Carbon Dioxide is a pollutant. It’s never been thought of as one before now.

This bill will drive unemployment up and cause companies to go out of business. And they want to do it in the worst economic slump in 75 years.

Here’s what the Heritage Foundation says about cap and trade:

“An analysis of the Waxman-Markey bill (as reported out of the House Committee on Energy and Commerce) by The Heritage Foundation found that unemployment will increase by nearly 2 million in 2012, the first year of the program, and reach nearly 2.5 million in 2035, the last year of the analysis. Total GDP loss by 2035 would be $9.4 trillion. The national debt would balloon as the economy slowed, saddling a family of four with $114,915 of additional national debt. Families would also suffer, as the bill would slap the equivalent of a $4,609 tax on a family of four by 2035.”

For the 16th Congressional District of Illinois (that’s us) Heritage calculates that the average personal income loss districtwide would be $485 million in 2012. To read the whole article, go to this site

If cap and trade takes effect, we won’t have to worry about pollution, because most people except EPA bureaucrats will be out of work.

Folks, we need to be putting Americans to work, not sending even more of our jobs to China. And cap and trade is a job-killer.