*This blog originally appeared on Smart Girl Politics
by Rep. Steve Buyer (IN)
The cap and trade legislation being debated this week does not include key factors that will directly impact American lives.
It should address how to protect Americans’ right to live, work, and prosper as we move our country toward a future with alternative energy, but it doesn’t. Cap and trade is a devastating
Idea for consumers and businesses. Coal is the most prominent domestic energy resource and it must remain in our nation’s short term energy policy.
It is disappointing that the Democrats’ energy legislation avoids explaining how the emissions allowances will be distributed. The bill also fails to explain how carbon tax derivatives will be decided, who will regulate, or what the trading limits will be. These details are crucial aspects of the legislation and should be known before any decisions are made. Knowing the full impact of this expensive cap and tax policy will prove the scope of the economical damage to come.
Our renewable energy sector has shown significant growth in recent years, largely due to tax credits and incentives supporting the industry’s advancement. I believe we need to continue growing our renewable and alternative energy sectors before current energy sources become extremely costly. During this time of a weakened economy, this will surely hurt American prosperity.