Energy policy is a national priority and is critically important in Central and Western New York. Sound national energy policies will enable America to obtain energy supplies from a wide range of sources in a way that is best for the economy and at the same time addresses homeland and national security considerations while creating incentives for responsible stewardship of the nation's resources and environment.
The solution was not, is not, and never will be "cap and trade" legislation. The passage of a cap and trade bill would mean that the federal government would set a limit on the amount of pollution companies are permitted to emit and require them to obtain allowances or credits for that specific amount. If they needed to exceed that federally permitted amount they would have to "trade" with other companies that pollute less for their carbon credits. The trading partner companies would receive a tax-credit for their donations.
Cap and trade is not a new idea. It has been around for decades and has been practiced in Europe to the detriment of their economies. On paper, cap and trade sounds to some like a great way to improve the environment, but its passage would have real world consequences.
Cap and trade legislation would place an enormous burden on Central New York families -- higher gasoline prices, higher heating costs, higher energy taxes, higher unemployment. Cap and trade, if enacted, would create a new national energy tax, destroy jobs and economic growth, and further damage the economy for decades to come.