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Washington, DC – “Under my plan of a cap-and-trade system,” then-Democratic presidential candidate Obama told the San Francisco Chronicle in January 2008, “Electricity rates would necessarily skyrocket.” House conservatives, on the other hand, led by Mike Pence (IN), John Shimkus (IL) and Fred Upton (MI) recently unveiled an “all of the above” plan that focuses on energy independence, creating more jobs and ultimately a cleaner environment—all this without increasing energy prices or mandating a national energy tax.
Under current legislation proposed by Congressmen Waxman (D-CA) and Markey (D-MA) as many as 7 million jobs could be lost in addition to raising energy costs by as much as $3,100 per family.
By contrast the GOP plan seeks to lower energy prices through, “a commitment to increase the production of our abundant domestic natural resources, and not punish traditional energy producers and consumers.” Whereas the Waxman-Markey legislation neglects to mention the necessity to increase the supply of carbon-free nuclear energy, the American Energy Act institutes a national goal of “licensing 100 new nuclear reactors over the next 20 years.”
Nuclear production is only part of the equation. The plan also calls for America to develop its own natural resources by repealing laws that act as barriers to invaluable energy resources such as oil and natural gas, investments in renewables, alternative energy technologies and incentives for conservation.
FreedomWorks commends House conservatives for their response to the Waxman-Markey tax hike. The American Energy Act is a positive alternative that doesn’t subject the American producer and consumer to unnecessary financial burdens.
FreedomWorks President Matt Kibbe observed: “The Waxman-Markey Cap-and-Trade legislation is just another big government scheme that will continue to strangle our economy during tough times. This bill does nothing to stimulate the economy, nor will it result in any meaningful environmental change for the better. It is all cost and no benefit. Unfortunately, that cost will be incurred by the average American family.”