Treasury Department: Cap-and-Trade Is a Huge Energy Tax

by William Yeatman on September 15, 2009

in Blog

CEI’s Chris Horner used the Freedom of Information Act to uncover internal documents from the Obama administration in which Treasury Department officials admit that a cap-and-trade would impose a steep energy tax on American families.

The Treasury Department’s admission contradicts claims by Democratic leadership that a cap-and-trade energy rationing scheme would boost the economy. In fact, a massive new energy tax (Department officials suggest that a cap-and-trade would cost consumers hundreds of billions of dollars) would depress economic growth by increasing utility bills and gasoline prices.

CEI long has warned Americans that policies to fight so-called global warming would harm American consumers and businesses by increasing energy costs. It’s great to see that Obama’s Treasury Department agrees.

To read more about these internal documents, read this Planet Gore blog post by Chris Horner, and this write-up by the Washington Times’s Amanda Carpenter.

Previous post:

Next post: