Serious Economic Impact With EPA CO

Floor Speech

Mrs. BLACKBURN. Mr. Speaker, I have a memo and article, ``OMB Memo: Serious Economic Impact Likely with EPA CO

2 Rules'' and also the article that is from the Dow Jones Newswires that brings attention to this. I have both documents right here, and I encourage my colleagues to read both of these documents.

As the memo points out, and the article also states, contrary to administration statements, some within the executive branch have serious reservations about regulating CO2 through the Clean Air Act. They highlight that such regulation will place a tremendous cost on our economy. I share their concerns, and I have introduced H.R. 391 to prohibit the EPA from undertaking such regulation.

The regulation of greenhouse gases by the EPA would, and I am quoting from the memo here, ``is likely to have serious economic consequences.''

Mr. Speaker, we all know what that is, and we know it will be realized if the cap-and-trade bill currently under consideration is passed.

I encourage everyone to join me on H.R. 391 and to read the memos.

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