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POPSThe Economic Impact of the Waxman-Markey C&T Bill
So, the good news for the rest of us--homeowners, car owners, small-business owners, farmers--is that we won't be directly regulated under this bill. The bad news is that nearly all the costs will get passed on to us anyway. What are those costs? According to the analysis we conducted at The Heritage Foundation, which is attached to my written statement, the higher energy costs kick in as soon as the bill's provisions take effect in 2012. For a household of four, energy costs go up $436 that year, and they eventually reach $1,241 in 2035 and average $829 annually over that span. Electricity costs go up 90 percent by 2035, gasoline by 58 percent, and natural gas by 55 percent by 2035. The cumulative higher energy costs for a family of four by then will be nearly $20,000. As with American manufacturers, Waxman-Markey also puts American farmers at a global disadvantage, as other food-exporting nations would have no comparable energy-price raising measures in place.
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POPSObama Budget Assumes Revenues From Cap and Trade Of course, green ideas like this aren't without their coal-black critics. House Minority Leader John Boehner (R-Ohio) criticized the proposal as a “tax increase on energy.” “ ‘Cap-and-trade’ is code for increasing taxes, killing American jobs and raising energy costs for consumers,” Boehner said in a statement. “Middle-class families are struggling during this recession, and the last thing they need is even higher costs of living and weaker job security, which is exactly what ‘cap-and-trade’ would deliver.” All BS. Cap and trade would not only create new markets, but new industries and new technologies. But that's not conservatism -- conservatism means that everything must remain unchanged forever. Even if the way you're doing things now is stupid as all hell.
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