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Cap-And-Tax

Floor Speech

Date: March 25, 2009
Location: Washington, DC
Issues: Taxes Energy Environment

CAP-AND-TAX

(Mr. SHIMKUS asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. SHIMKUS. Madam Speaker, today's Los Angeles Reuters article states, ``U.S. electricity prices are likely to rise 15 to 30 percent if a national cap on carbon dioxide emissions is instituted, according to a report by Moody's Investors Services.''

You've heard us talk a lot about a cap-and-tax. The burden of this carbon regime will be a tax on carbon use, pushing the cost on us, the middle class, the poor. And the debate here is we, on our side, we do not want to cap our economy and trade away our jobs. And that's what this regime will do.

This was after the 1990 Clean Air Act Amendments. A mine in my district, Peabody No. 10 in Kincaid, Illinois, because of the Clean Air Amendments, well, it was actually 1,200 miners lost their jobs.

This is what will happen if we pursue a cap-and-tax regime that caps our economy and trades away our jobs. We will fight this to the end.


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