Research

Despite President Obama’s promise not to increase any taxes on the middle-class, experts testifying to the Senate Energy and Natural Resources Committee hearing yesterday provided further evidence that “cap-and-trade” is just a “great big” tax, as Rep. John Dingell (D-MI) has said previously:

• Dr. Chad Stone of the Center on Budget and Policy Priorities (a liberal think tank) explained how “Cap-and-Trade” legislation places a “disproportionate burden” on low-income households and drives other households into poverty.

• Gilbert E. Metcalf of Tufts University made clear that “Cap-and-Trade” is really just a fancy name for a “broad based energy tax” that will hurt low-income families.

• Denny Ellerman , formerly of the Center for Energy and Environmental Policy Research at MIT, reveals cap-and-trade allows the government to pick “winners and losers” among energy producers.

• And Dr. Karen Palmer of Resources for the Future added that they way carbon emissions allowances are allocated in the Waxman-Markey bill “increases cost for the economy as a whole.”

The Democrats in Congress should pay attention to the new Politico poll that points out “Cap-and-Trade” climate legislation is at the bottom of America’s to-do list and getting Americans back to work is at the top.  The poll results aren’t too surprising, given CBO Director Doug Elmendorf’s testimony during last week’s climate change hearing that the Democrats’ national energy tax is going to cost America jobs, not create them. So caveat emptor, Middle Class.