by Rep. John Shadegg (AZ)
Cap-and-trade legislation will do more than cap carbon emissions; it will cap American purchasing power by dramatically hiking our cost of living. The costs of cap-and-trade go far beyond energy companies and seep into every aspect of our daily lives.
Washington Democrats want to force energy companies to pay more to emit carbon. In doing so, they are really forcing Americans to pay more for all we buy and do—from the ham sandwich we have for lunch to the electric bill or the tank of gas—anything that requires energy to make or use. With cap-and-trade these costs will explode, and all our routine activities from when we wake up in the morning until we go to sleep at night will become more expensive. In short, Democrats are essentially proposing a “Life Tax.” (And you thought the Death Tax was bad.)
The Democrats know it, too. Even President Obama has acknowledged that cap-and-trade will cause costs to “necessarily skyrocket.” A recent estimate has placed the cost to the average American household at $3,900. With Americans already feeling the pinch of layoffs, downsizing, and depleted savings, we cannot afford to add the Life Tax to their burden.