Smith Opposes Cap and Trade'
Congressman Lamar Smith today opposed the Cap and Trade energy bill known as the "American Clean Energy and Security Act" and said it was really a tax on all Americans. "The bill is expected to raise energy costs on American families by as much as $1,600 a year according to the non-partisan Congressional Budget Office," Smith asserted.
A new study by the National Black Chamber of Commerce (NBCC) found the legislation would increase the cost of electricity by 45% and the cost of a gallon gas by 60 cents.
Smith added, "In Europe, cap and trade policies have raised energy prices on consumers and put companies out of business. The decrease in carbon emissions has been negligible."
Smith said that for the sake of the environment and the economy Americans need a comprehensive energy plan, not a national energy tax. He supports an alternative called the "American Energy Act."
The "American Energy Act" develops more American resources, invests in renewable and alternative energy sources, offers incentives for better efficiency and conservation, and makes a renewed commitment to clean and emissions-free nuclear energy.