The House passed the largest tax increase in the history of the U.S.
The Tax and Cap plan to cut carbon emissions will be a major failure, just as it has been in Europe. The only success of these schemes has been to increase the cost of energy generation to business and consumers. The biggest losers have been the consumer, as corporations do not pay taxes, the consumer does. Try telling that to Nancy Pelosi.
I am in Alberta on business, in an area where there are a lot of wind turbines. These turbines provide for 30% of the power to Calgary and 100% of the light rail power for the trams serving Calgary. However, the wind does not always blow.
Where does the power come from when the wind does not blow?
The wind comes from conventional sources--coal and natural gas. The capacity to cover the period for those days when the wind is insufficient has to be provided for.
Alternative energy--wind, solar, and biological--has yet to demonstrate the ability to be cost effective as a replacement for hydrocarbons--natural gas, liquid fuels--and coal.
The only real means to reduce emissions is to build nuclear power plants to replace natural gas and coal fired power plants, and to continue to improve the efficiency of insulating materials for residential and business construction.
There have been eontinuing improvements in vehicle efficiency.
What is missing in all of this, is the third world's part. India and China are the major polluters on Earth. Why are they not working to reduce the impact of their industrialization? They have an advantage over the Western world. The technology to reduce their impact exists. They just choose not to use it.
Pelosi and the other nutcases in Congress have demonstrated that they are completely out of touch and need to be replaced.
This imposition of federal excess is a demonstration of why there is a 10th Amendment.
The States should reject this legislation. However, the Senate has indicated that it will not pass any such legislation, saving everyone from this stupidity.