The American Clean Energy Security Act (a.k.a. cap and trade')
"All Americans should object to the process that Speaker Pelosi used to ram this bill through the House today. The latest version was unveiled at 3 a.m., and totals 1,500 pages which no Member of this House has read! My colleagues had neither the time nor the opportunity to digest it. It was barely off the printer before the House voted on it in a format which limited debate to three hours and the ability for Members to amend the bill.
"Beyond the process, there is no doubt in my mind that this legislation is a job killer.'
"This bill contains increased costs for every American. Consumers will ultimately bear the costs of emissions reductions through a cap and trade' system. In the midst of the deepest recession in recent memory and with unemployment soaring, higher energy costs will only make matters worse.
"A national energy tax will actually destroy jobs. Higher costs and taxes for small and large businesses will mean they have will have less money to invest and create new jobs. Raising taxes in the midst of a recession is lunacy!
"The bill fails to include nuclear power as a priority. New Jersey gets 53 percent of its power supply from nuclear energy. Nuclear power must be a key part of America's future.
"This legislation is a gift that keeps on giving' to our economic adversaries and competitors. China and India are the largest producers of carbon dioxide in the world. Energy-intensive industries, like American manufacturers, will no longer be able to compete with those of nations which are not subject to similar restrictions.
"In short, the process was disgraceful and the legislation it produced is deeply flawed."