[Congressional Record (Bound Edition), Volume 155 (2009), Part 11]
[House]
[Page 14357]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     CAP-AND-TRADE DESERVES TO FAIL

  (Mr. CASSIDY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. CASSIDY. Mr. Speaker, cap-and-trade threatens to be a well-
intended disaster. Under the ruse of reducing carbon emissions to clean 
the environment, cap-and-trade will hobble the economy. By some 
estimates, it reduces GDP by $9.6 trillion over two decades, eliminates 
1.1 million jobs per year, and increases the Federal debt by 26 
percent. Electricity rates jump 90 percent, gas prices 74 percent, and 
natural gas prices 55 percent.
  Cap-and-trade is designed to disguise what it truly is, in the words 
of Mr. Dingell, ``a great big tax.'' It imposes higher taxes on 
producers, so producers pass higher prices to consumers. The authors 
are targeting the producers so that the producers increase the prices 
on consumers. If the authors targeted consumers rather than the 
producers, it would connect them too much, and therefore, they must 
distance themselves from the families who bear the costs.
  The authors know the effects. They are hiding from them. It is 
underhanded, it is subterfuge, it deserves to fail.

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