Burton: "New" Cap-and-Trade Plan Is A Trojan Horse

Press Release

Now that the "new" Democrat Cap-and-Trade plan has emerged from the House Energy and Commerce Committee, what's still clear is that jobs and wealth will be sacrificed to make an indeterminable impact on the environment. Of the major changes in the legislation, The Wall Street Journal reports that, initially, only 15% of "greenhouse gas emission credits" will be auctioned while the rest are given away, as opposed to the original plan of auctioning 100% of the credits. Regardless, the legislation opens the door for the full weight of the cap-and-trade tax to be phased in over time. After reviewing the initial reports on the cap-and-trade plan that the House Energy and Commerce Committee will consider next week, Rep. Dan Burton (R-IN) issued the following statement: "This is the camel's nose under the tent. You have virtually the same plan, with all the built-in destruction to American jobs and family budgets, but now there's some window dressing for the long-term economic impact of the bill. Auctioning fifteen percent of the emission credits is just the beginning. This is a tax that the Democrats will increase incrementally, and as they do so, it will create a slow bleed on our economy that will cost trillions of dollars and millions of jobs over time.

"Make no mistake; although the 'new' Democrat cap-and-trade legislation is slightly less aggressive in the short-term, it is just the first step toward implementing their full-scale tax plan. By waving the environmentally friendly banner as a headline, this legislation is a
genuine Trojan horse filled with taxes, and an attack on American consumers and our various industries."

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