Watch out: Cap-and-trade bill will cost you

November 13, 2009 1:41 am

It's been a remarkably contentious few months in our nation's capital.

But one thing is clear from the flurry of bills, amendments, and stump speeches on climate change: Cap and trade will fail Americans, especially in the lower and middle classes, and bring higher fuel costs across the board.

The fuels that individuals and businesses use every day--gasoline, diesel, and jet fuel--will increase dramatically in price under this legislation.

Despite the number of bells and whistles attached, from green power subsidies or weak nuclear power amendments to minor offshore drilling concessions, cap and trade is a toxin that will spread to every corner of our economy.

According to a study by the American Petroleum Institute, Virginians would be looking at a 3.3 percent drop in per capita disposable income, 54,000 jobs lost, and $263 billion in lost state revenue.

Though the White House and its allies in Congress have relentlessly marketed cap and trade as the ticket for a "green economy" and "green jobs," many Americans are catching on that these do not exist without massive taxpayer subsidies and exponentially higher energy rates.

Virginians must stay on guard; this issue is far from dead.

Join us in continuing to urge Sens. Mark Warner and Jim Webb to stop cap-and-trade legislation and keep America moving on the transportation fuels it needs.

Pete Sepp

Alexandria

The writer is vice president for policy and communications with the National Taxpayers Union.