Upstate Congressman Bob Inglis says he continues to see flaws in the Waxman-Markey “cap-and-trade” bill. The new energy proposal, expected to be voted on this month, has received fire from environmentalists, who say it’s too industry-friendly, as well as conservatives like Inglis. Inglis says the proposal,without a World Trade Organization-compatible border adjustment, will either advantage foreign competitors or spark a trade war.
Inglis met with a group of Greenville county residents Monday. “Cap and trade as proposed by the democrats is a massive tax increase in a recession. It’s a Wall Street trading scheme just like the debacle we just went through. And it punishes American manufacturers. It’s not the right way to address this thing.”
Inglis says his counter proposal, the Raise Wages, Cut Carbon bill,would allow the US to apply a very straightforward rebate for exports and tax on imports. He says the Waxman-Markey plan would leak jobs to countries where companies can freely pollute. “This cap and trade will not help the environment and will tax the American people in an enormous way. So we need to stop that and get to a better plan, to get better national security, get more jobs and, if it’s important to you, clean up the air.”
Besides Greenville, Inglis also made a stop in Spartanburg
The Heritage Foundation, a conservative think tank, argues that the Waxman-Markey bill would cost an American family an average of $1500 a year in energy bills. The Congressional Budget Office estimates that a 15 percent reduction in carbon emissions by 2020 through a cap-and-trade plan would cost the average American household $1600 a year, with low-income households bearing more of the financial burden.
Cap and trade sets a limit on the amount of greenhouse gases that a manufacturer, business or utility is allowed to release. Waxman-Markey would set a cap that’s intended to reduce greenhouse gas emissions by 15 percent by 2020. Greenhouse-gas emitters would have the chance to buy a certain number of pollution credits that allow them to go over the pollution cap. The government would sell the credits in an auction. Supporters of the bill says it would be more free-market oriented than just having government regulations.