NM GOP Response to Cap/Trade & Harry Teague

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FROM THE NM GOP

“FOR IMMEDIATE RELEASE
CONTACT: Janel Causey
June 29, 2009
(505) 298-3662

Democrats’ Cap-and-Tax Legislation to Drive up Energy Costs
Reps. Heinrich, Lujan, and Teague Advance Pelosi’s Agenda

ALBUQUERQUE—Harvey Yates Jr., chairman of the Republican Party of New Mexico, issued the following statement concerning the passage of cap-and-tax legislation passed late Friday in the U.S. House of Representatives:

“During a time of economic crisis, it is disappointing that New Mexico’s freshman delegation has bowed to Speaker Nancy Pelosi and advanced a multi-billion dollar national energy tax.  As a consequence, Americans will feel the impact of this tax when we fill up our gas tanks, buy airline tickets, pay our utility bills and buy groceries.  At a time when American families are struggling, this administration and this unwarranted legislation continue to move America in the wrong direction.”

Friday, the U.S. House of Representatives passed House Resolution 2454, the American Clean Energy and Security Act of 2009 which authorizes the government to set a cap on the amount of carbon dioxide that the nation can emit.  The allowable limit would decrease over time.  The resolution passed on a 219-212 vote.

“Because much of New Mexico’s state income comes from the production of oil and gas, this legislation would have an especially harsh impact on our state,” continued Yates.  “The various amendments attached to the resolution by our freshman Democrat delegation are simply eye wash.  The members of the delegation seek to hide behind those amendments even though the legislation would be bad for the nation and particularly bad for New Mexico.”

Research has shown that HR 2454 would cost the U.S. economy $161 billion in 2020, translating into $1,870 for a family of four.  By 2035, electricity costs are estimated to increase by 90%, gasoline by 58%, and natural gas by 55%.  It is estimated that as a result of this resolution there will be approximately 1.1 million jobs lost between 2012 and 2035.  (“The Cost of Cap and Trade: Why the EPA and CBO Are Wrong,” Heritage Foundation, 6/24/09, “The Economic Impact of the Waxman-Markey Cap-and-Trade Bill” Ben Lieberman’s testimony before the Senate Republican Conference 6/22/09)

While this bill was debated in the House Energy Committee, Republicans offered three amendments which would have suspended the program under three conditions: if gas prices reach $5 per gallon; if electricity rises 10% in 2009; and if unemployment hits 15%.  The Democrats defeated each amendment.”

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