Senator Gilbert Baker is opposed to cap and trade legislation. Cap and trade, or emissions trading, would force U.S. companies to limit carbon emissions; those who exceed the limit, would be taxed. This is another 1,500 page bill that will be devastating to Arkansas jobs and is another example of government interference in our lives. It is a national tax of historic proportions.
The Heritage Foundation analysis of cap and trade projects that by 2035:
* Gasoline prices will rise 58 percent (or $1.38) above the baseline forecast, which already contains price increases;
* Natural gas prices will rise 55 percent;
* Heating oil prices will rise 56 percent;
* Electricity prices will rise 90 percent;
* A family of four can expect to pay $1,241 more for energy costs per year;
* Including taxes, a family of four will pay $4,609 more per year;
* A family of four will reduce its consumption of goods and services by up to $3,000 per year, as its income and savings fall;
* Aggregate GDP losses will be $9.4 trillion;
* Job losses will be nearly 2.5 million; and
* The national debt will rise an additional $12,803 per person.
Cap and trade is nothing more than a tax that would have a dramatic impact on Arkansas and America. Sen. Gilbert Baker opposes the measure and will never be a swing vote on this issue.