National Energy

Floor Speech

Ms. FOXX. As the summer months quickly approach and families start to plan vacations, our country continues to struggle with high energy costs. That is why the Democrats' cap-and-trade, or better known as cap-and-tax, energy plan is an irresponsible proposal that will do more harm than good. The simple truth behind the Democrats' energy plan is that it raises taxes, kills jobs, and will lead to more government intrusion in our lives.

The Democrats' energy plan is really a $624 billion national energy tax that will hit nearly every American family. This new national energy tax will be paid by anyone who turns on a light switch or plugs in an appliance.

With Democrats still hiding many of the important details of their energy plan, a study that looked at a similar proposal estimated that the impact will be roughly $3,100 every American household will have to pay to the Federal Government.

Also disappointing is the fact that the Democrats' national energy tax will hit the poor the hardest. Experts agree that lower-income individuals spend a greater share of their income on energy consumption. So while every American will be paying more for energy, low-income households already living on the edge of desperation will be hurt even more.

The truth is President Obama is aware of the impact his energy plan will have on American families. While still a candidate for President, then-Senator Obama said that under his cap-and-tax plan, utility rates would necessarily skyrocket and said that those costs would be passed along to consumers.

The impact of this national energy tax will not only be seen in home utility bills or at the pump, but various estimates suggest that anywhere from 1.8 million to 7 million Americans could lose their jobs as well.

Though the President is promoting green jobs that may be created by his cap-and-tax plan, any new jobs created will not come close to compensating for those lost to this reckless energy policy.

We have no greater example of the devastation the cap-and-tax system can have on an economy than Spain. After years of promoting green jobs, Spain has the highest unemployment rate in Europe, standing at a whopping 17.5 percent.

Cap-and-tax has sought to be an environmentally friendly plan. The truth is that it will relocate manufacturing plants overseas to countries with far less stringent environmental regulations, in turn trading pollution to another part of the world.

Republicans are for clean air, clean water and are committed to solving our energy crisis. Republicans believe there is a better way to achieve energy independence without destroying our economy and killing jobs.

Source