[Congressional Record Volume 155, Number 79 (Thursday, May 21, 2009)]
[House]
[Page H5898]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           CAP-AND-TAX WILL CAP OUR GROWTH AND TRADE OUR JOBS

  (Mr. FLEMING asked and was given permission to address the House for 
1 minute.)
  Mr. FLEMING. Mr. Speaker, the crazy cap-and-tax idea advanced by my 
liberal colleagues would create $640 billion in new taxes on American 
businesses and raise electrical bills by $3,100 per household per year. 
This cap-and-tax proposal creates an artificial market to find revenue 
to pay for various social programs that this administration plans to 
enact, such as government takeover of our health care. This boondoggle 
will cap our growth and trade our jobs. Companies looking to invest in 
our economy will simply move overseas to escape this enormous tax 
increase.
  You don't believe me? Look in the crystal ball at Spain, which has 
been on this plan for 10 years. After losing a number of companies, 
seeing utility prices skyrocket and suffering a 17.5 percent 
unemployment rate, we can see our future clearly. Even worse, experts 
tell us that cap-and-tax will do nothing to cap greenhouse gases, but 
it will put the United States at a global economic disadvantage because 
China and India will ignore this scheme. In fact, it will also serve as 
an economic stimulus for all developing countries which will be happy 
to accept our jobs.
  Why not use common sense for a change and develop true renewable 
resources as well as nuclear power, which has a zero carbon footprint?

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