House Democrats Costing Hoosiers

Press Release

HOUSE DEMOCRATS COSTING HOOSIERS

This week, within the House of Representatives Committee on Energy and Commerce, the Subcommittee on Energy and Environment is holding a week long hearing regarding draft legislation to impose a cap and trade regulation system on carbon dioxide emissions. There are many components of the legislation that still lacks detail but the goal of the legislation is to cut U.S. greenhouse gases by 83 percent, below the 2005 levels by 2050. These stringent regulations would be very costly to the state of Indiana and affect Hoosier employment and energy sources.

Congressman Steve Buyer (IN-04) has long been a proponent for rebalancing our nation's energy portfolio to include renewable and alternative energy sources which would lower our nation's carbon foot print, create jobs, and provide affordable energy for Hoosiers.

"The cap and trade legislation hearing that is taking place this week needs to encompass more than just combating carbon dioxide air emissions—though it has its importance. We also need to be addressing how to protect Americans' right to live, work, and prosper in the present and how we bridge our country to its alternative energy future. Cap and trade will be devastating to consumers and businesses in the Mid-west and across the nation. Coal is the most prominent domestic energy resource and therefore it must remain in our nation's short term energy policy," said Buyer.

A report from the Heritage Center for Data Analysis showed that of the 435 districts across the nation eight of the top 20 districts that will be hit the hardest economically are in Indiana. Congressman Buyer's district rounds out at fourteenth on the list.

"It is disappointing that the proposed draft has avoided taking a position on how the emissions allowances will be distributed, as well as not explaining how carbon tax derivatives will be decided, who will regulate the emissions, what the trading limits will be and much more that is still unknown. These are crucial aspects of the legislation and knowing their impact would help determine the scope of the economical damage the proposal could cause. Our renewable energy sector has shown significant growth in recent years, due in great part to tax credits and incentives supporting the industry's advancement. I believe we need to continue to grow our renewable and alternative energy sectors before we make our current energy sources extremely costly during a time of a weakening economy—Thus crippling Americans' ability to prosper," added Buyer.

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