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Sens. Jeff Bingaman (D-NM) and Arlen Specter (R-PA) introduced this week their “Low Carbon Economy Act” (LCEA) intended to combat global warming. The bill ought to be called the “The Trillion Dollar Giveaway and Wealth Redistribution Act.” The LCEA is 130 pages in length and quite complex. So while it will take considerably more time to do a thorough analysis, the bill does have one notable feature that screams for immediate attention – its giveaway of more than one trillion dollars to special interests in its first 10 years. |
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