We’d all better hope that U.S. Sen. Lindsey Graham (R-S.C.) is right. “This bill coming out of the House is going nowhere in the Senate,” he said Sunday on NBC’s “Meet the Press.” The bill he refers to is the Nancy Pelosi cram-down, with the support of eight wayward Republicans, of a cap-and-trade monstrosity guaranteed to raise the cost of living in America.
The eight House Republicans are: Reps. Mary Bono (Calif.), Michael Castle (Del.), Mark Kirk (Ill.), Leonard Lance (N.J.), Frank LoBiondo (N.J.), John McHugh (N.Y.), David Reichert (Wash.) and Christopher Smith (N.J.). Forty-four Democrats, including U.S. Reps. Jim Marshal of Macon and John Barrow of Savannah, voted against the bill, which passed, 219-212. This raises a question, but we’ll never know the answer: Had their votes been needed to pass the bill, would Marshal and Barrow have voted yes. Republicans in the Georgia delegation contend that the so-called “Blue Dog Democrats” vote conservative when Pelosi doesn’t need their votes.
Had Michael Jackson lived, it’s likely that Americans would have paid more attention to the extraordinary costs and to the high stakes in the 1,200-page legislation that passed Friday night. It’ll have negligible impact on so-called global warming, but the hidden taxes involved will stagger this economy. Heritage Foundation Senior Policy Analyst for Energy and the Environment, Ben Lieberman, testified before the Senate Republican Conference that under this bill “electricity costs go up 90 percent by 2035, gasoline by 58 percent, and natural gas by 55 percent by 2035. The cumulative higher energy costs for a family of four by then will be nearly $20,000.”
That’s not all, he said. Pass-through costs from manufacturing will raise that same family’s costs by $2,979 per year between 2012 and 2035, with a total cost in 2035 of more than $4,600. The costs will go up. That’s because more than 60 percent of the “pollution permits” will be offered for free in the early years. That’s a lesson politicians have learned from drug dealers: Hook ‘em and then fleece ‘em.
The House also has a provision in the bill that is guaranteed to start a global trade war. It will impose tariffs on goods from countries like India and China that don’t match U.S. efforts on global warming. This bill is a disaster for the economy and for the family budget.