What will Cap and Trade do?
* Various analysis show that Lieberman-Warner would result in higher prices at the gas pump, between 41 cents and $1 per gallon by 2030.
* The bill would represent the largest tax increase in U.S. history.
* The bill would be the biggest pork bill ever contemplated with trillions of dollars in giveaways.
* Science Applications International Corporation SAIC shows that up to 4 million jobs will be lost by 2030 in the U.S.
* Manufacturing jobs will be one of the hardest hit sectors as the Energy Information Administration (EIA) projects that manufacturing output will decline by up to 9.5% in 2030. This country has already lost 19% of its manufacturing since 2000.
* EIA estimates that this bill will result in the loss of nearly 300,000 U.S. jobs by 2020.
* The Congressional Budget Office (CBO) estimates that “most of that cost would ultimately be passed on to consumers.”
* CBO says Lieberman-Warner would effectively raise taxes on Americans by more than $1 trillion over the next 10 years.
* Sen. George Voinovich (R-Ohio), warned last week that Lieberman-Warner “could result in the most massive bureaucratic intrusion into the lives of Americans since the creation of the Internal Revenue Service.”
* The bill would not have a detectable impact on the climate. According to the Environmental Protection Agency’s own analysis, by 2050 Lieberman-Warner would only lower global CO2 concentrations by less than 1.4% without additional international action.
* The Wall Street Journal calls it “the most extensive government reorganization of the American economy since the 1930s.”
* The bill would hinder U.S. competitiveness. It will transfer American jobs overseas where environmental regulations are much more lenient.
* If you are wonderng what is going to happen, just watch and then get involved by calling your Senator on these issues immediately.