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Understanding the legislation
Current House and Senate Bills
1. H.R. 2454: American Clean Energy and Security Act of 2009
2. Clean Energy Jobs and American Power Act
Senators John Kerry and Barbara Boxer are working on the Senate version of the bill. Here is a good analysis of H.R. 2454 and it consequences.
How much do we affect global warming?
Out of the entire atmospheric makeup, only one to two percent is made up of greenhouse gases with the majority being nitrogen (about 78 percent) and oxygen (about 21 percent). Of that two percent, “planet-killing” carbon dioxide comprises only 3.62 percent while water vapor encompasses 95 percent. And of the amount of carbon dioxide in the atmosphere, humans cause only 3.4 percent of annual CO2 emissions. Read full article>>
Cap-and-trade could cost families $1,700 to $3,100 a year
The Obama administration has privately concluded that a Cap-and-Trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent. Read full article>>
Sadly, that is a low estimate. According to Republican lawmakers, the Cap-and-Trade plan to tax carbon emissions could cost every American family as much as $3,100 a year and is equivalent to a “declaration of war on the Midwest.” Read full article>>
Homeowners and small businesses will pay the price
The Waxman-Markey global warming bill narrowly passed the U.S. House of Representatives and awaits consideration in the U.S. Senate. A Heritage Foundation analysis of the bill predicts the bill's energy price-boosting measures will result in sky-high costs. Should it become law, Waxman-Markey will reverberate throughout the economy. Read full article>>
Ohioans will be hit the hardest
When it comes to direct and immediate vulnerability to an energy tax, Ohio ranks second on the list. The rating is based on the state’s exposure to manufacturing workforce and reliance on coal power generation. See chart.
According to Heritage Foundation, the bill will affect each state differently. Some states are more energy-intensive than others and some rely a great deal on manufacturing to fuel its economy. Regardless, the costs in every state are significant. Increases in electricity and gasoline are a dreadful site for any American. Moreover, the projected losses in jobs and Gross State Product (GSP) illustrate how each state's economy will be operating well under its potential directly because of the Waxman-Markey bill. What follows are 50 state-by-state breakouts of the impact the bill would have on jobs and the economy. Read full article>>
Effect on gas prices in Ohio and throughout the country
If this bill becomes law, gasoline prices would increase significantly in order to meet emissions limits imposed by the legislation. Read full article>>
Great Cap-and-Trade resources
Heritage Foundation
American Solutions
The Heartland Institute
Institution of Energy Research
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