Thank you for letting me know of your opposition to the American Clean Energy and Security Act, also known as the Waxman/Markey Cap-and-Trade bill.
Like you, I am opposed to this Cap-and-Trade legislation because it would destroy thousands of jobs, redistribute wealth and have an unfair and severe impact on Minnesota's traditionally low energy costs. I voted against this bill when it came before the House.
Studies have shown that the Cap-and-Trade bill would increase gas taxes up to $0.77 per gallon and boost energy costs for small businesses and families by as much as $3,100 per year. With the subsequent loss of global competitiveness from these dramatically higher costs, American companies would be forced to cut an estimated 2.5 million jobs. Our struggling economy cannot afford this huge new energy tax.
A recent analysis of the economic impact of the Waxman/Markey Cap-and-Trade bill projects that by 2035 the bill would:
I do believe that America needs a comprehensive energy solution to reduce our dependence on foreign oil and jump-start our economy. I am supporting the American Conservation and Clean Energy Independence Act, H.R. 2227, which is comprehensive legislation that invests in both new and reliable sources of energy and recognizes that American energy produces American jobs. Among other provisions, it increases domestic supplies of both oil and natural gas by allowing exploration of the Outer Continental Shelf and expands the use of nuclear energy, which is emission-free.
- Reduce aggregate gross domestic product (GDP) by $9.6 trillion.
- Raise electricity rates 90 percent after adjusting for inflation.
- Increase inflation-adjusted gasoline prices by 74 percent.
- Boost residential natural gas prices by 55 percent.
As you know, the Constitution gives the Senate power to approve, by a two-thirds vote, treaties made by the executive branch. You can be sure that I will be monitoring the actions of the U.S. Senate as the President proceeds on the United Nations Climate Treaty.
I will also continue to oppose any Cap-and-Trade legislation that causes our energy prices to skyrocket or fails to keep jobs in Minnesota.
Thanks again for sharing your concerns, as I appreciate hearing from you. Please let me know whenever I can be of assistance.
Member of Congress
Please visit NoCapAndTrade.com to learn more, and to let your Senators and Representative know what you think about these efforts to grow government, restrict freedom, kill our economy, and surrender our national sovereignty.