Categorized | Uncategorized

CEI Uncovers Shocking Obama Admission: Cap-and-Trade = 15% Income Tax Hike

CEI Uncovers Shocking Obama Admission: Cap-and-Trade = 15% Income Tax Hike

Yesterday, I blogged on how 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.

In only 24 hours, the story has gone viral.

Here’s what CBS News is reporting:

The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.

A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration’s estimate, the cost per American household would be an extra $1,761 a year.

This FOIA story has been highlighted by the Drudge Report, Breitbart, The Weekly Standard, and the Politico.

To read the internal Treasury Department documents, click here.



This Post has 2 Responses


Trackbacks/Pingbacks

  1. [...] a Treasury Department study does not exist even though the Competitive Enterprise Institute’s Chris Horner uncovered it using the Freedom of Information [...]

  2. [...] a Treasury Department study does not exist even though the Competitive Enterprise Institute’s Chris Horner uncovered it using the Freedom of Information [...]

  • Popular
  • Most Comments
  • Most Emails

Add to Technorati Favorites

Now Available

Horner's New Book

Newsletter Sign-up

Email
First Name
Last Name
Zip