‘Cap & Trade’ Declared ‘DOA’
REPUBLICAN SENATE Minority Leader Mitch McConnell (Ky.) told a group of business leaders in eastern Kentucky on Aug. 23 that cap and trade, the radical environmental program pushed by Democrats, will not be passed in this Congress, meaning the legislation is effectively “dead.”
Local Kentucky news WKYT reported that McConnell made the announcement while speaking to the Pike County Chamber of Commerce on Aug. 23.
“I think cap and trade, which is also known as the national energy tax, is dead in the United States Senate,” said McConnell.
Cap and trade refers to legislation being pushed mainly by Democrats that would limit carbon emissions in the United States. How it would work is that factories would be issued individual standards by federal bureaucrats, which would dictate the amount of gases each one can produce in a year. The corporation would then have to enact programs to monitor its output. Those that move quickly to reduce certain types of gases and come in under their mandated limit would be able to sell or trade the remaining levels of gases with companies that cannot.
Republicans contend that the new regulations would increase costs on companies that would lead to increased joblessness and rising prices as factories pass on the added environmental costs to consumers.
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(Issue # 36, September 7, 2010)