[Congressional Record Volume 155, Number 79 (Thursday, May 21, 2009)]
[House]
[Page H5982]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             CAP-AND-TRADE

  (Mr. OLSON asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. OLSON. Madam Speaker, as the House moves closer to taking up 
legislation to tax carbon emissions of American businesses, we must 
consider the real costs versus the theoretical benefits.
  Recent CBO analysis indicates the potential loss of jobs in my home 
State of Texas, by the year 2020, due to the cap-and-tax bill that is 
before the House now to be between 53,000 and 300,000 jobs, resulting 
in a loss of personal income between $3.9 billion to $22.8 billion. CBO 
also estimates that a 15 percent mandatory reduction in carbon dioxide 
emissions could cost the average household $1,600 in higher energy 
prices, with a disproportionate burden placed on low-income families.
  Energy costs are already high, and we're experiencing one of the 
worst economic periods in history. Economic impacts aside, we must also 
look at whether this costly program will achieve its intended goals. 
The answer, based on the evidence before us, is clearly no. A global 
problem requires a global solution. Unilateral U.S. action will only 
hurt our country's ability to compete in a global marketplace.
  Texas and America simply cannot afford to further cripple our already 
fragile economy with a risky, costly Federal mandate that does little 
or nothing to impact the global climate.

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