The non-partisan Congressional Budget Office (CBO) released its analysis of the Waxman-Markey bill, the proposed Democrat cap and trade national energy tax. The CBO report confirmed that every American will pay energy taxes, with “relief” being offered only to families earning less than $42,000 per year and individuals earning under $23,000 per year. The median household income in the United States is $50,233.
The CBO has made official what Republicans have been saying all along: the Democrats’ new planned carbon tax will have a staggering impact on the middle class. What happened to that “no new taxes” on the middle class pledge?
Rep. Dave Camp (R-Mich.), the ranking Republican on the House Committee on Ways and Means highlighted facts from the CBO analysis of the Democrat legislation engineered to increase energy prices in the United States.
“The President has repeatedly stated married couples earning less than $250,000 a year would not face higher taxes, but this legislation imposes an energy tax on every American and provides no help to families making more than $42,000 or individuals making as little as $23,000,” Camp said. “Increasing Americans’ fuel and utility bills in this recession is not only bad policy, but it completely ignores the hardships millions of Americans are already facing. This is dangerous legislation in desperate need of closer review.”
The CBO analysis also found that the bill imposes $846 billion in new national energy taxes that will affect every single American. It also creates several new federal programs and agencies that would cost taxpayers an average of $800 million annually for the first 10 years.
The tax burden to American families is expected to average $3,100 a year per household, depending on whether or not the energy supply in your area relies more heavily on coal. This new carbon tax will cripple industry and send millions of jobs overseas to countries such as China and India who have made it quite clear that they will not participate in any schemes to tax carbon emissions.
Democrat Stimulus Plan is Not Working
President Obama and Vice President Biden announced yesterday that they were increasing government spending authorized by the so-called stimulus bill due to dismal economic numbers. They tried to put a smiley face on the failed Democrat plan and offered more of the same, only faster, as a solution.
Rep. Mike Pence (R-Ind.) spoke to HUMAN EVENTS yesterday on the deleterious impact of the so-called stimulus plan.
“From April 25th we were at 6,351,000 and on May 23rd, we were at 6,735,000 claiming unemployment benefits. We’re tracking unemployment claims on GOP.gov since Democrats passed the so-called stimulus bill on February 28th,” Pence said. “At the time the legislation was passed, the unemployment claims were at 5,253,000; now they’re at 6,735,000. But that doesn’t sound like progress to House Republicans.
“In January, the American people were warned that without passage of the trillion dollar so-called stimulus bill, unemployment would reach over 9 percent. Well we passed the so-called stimulus bill, and unemployment is now 9.4 percent. The President told us if we passed the stimulus bill, unemployment would slow and peak at less than 8 percent. It’s now 9.4 percent. And of course, with a $1.8 trillion deficit and 9.4 percent unemployment, it’s time for a new approach.”
Obama lashed out against those who question the premise of his trillion-dollar government spending bill, saying, “I would suggest to them that they talk to the companies who, because of this plan, scrapped the idea of laying off employees and in fact decided to hire employees.”
Of course, the President did not give one example company. I’m sure if his folks could have found one that fit this scenario, Obama’s teleprompter would have told him to say it. The President at one point claimed that jobs would be saved by the so-called stimulus plan at a Caterpillar plant in Peoria if the bill passed. That wasn’t true and the President was publicly called on that disinformation.
There is an attempt underway to use the stimulus funding by one state to take away jobs from another state.
Columbus, Georgia Mayor Jim Whetherington has asked the federal government for money from the so-called stimulus funds to help finance the transfer of NCR Corp. from Dayton, Ohio, to Georgia. The mayor says he wants stimulus money to refurbish two buildings for NCR to make ATMs. The request is still pending.
Would these jobs fall into the “saved” or “created” category? Probably both using Obama math.
There is a bit of intriguing irony in the story. It was the Democrat Senator from Ohio, Sherrod Brown, who cast the deciding vote in the Senate to pass the “stimulus bill” earlier this year. How’s that working out for you, Senator?
Supreme Court Tells Obama ‘Not so Fast’
The United States Supreme Court yesterday ruled that the Obama administration cannot usher through the sale of Chrysler to Fiat without judicial review. Republican Study Committee Chairman Tom Price (R-Ga.) summed up the issue in a statement after the ruling came down from the high court.
“This is an encouraging sign for those of us who believe that the President cannot simply abrogate contracts and implement his will at the expense of the law,” Price said. “President Obama has shown an overzealous willingness to meddle in the affairs of private businesses, and it may have finally caught up to him. Rather than honoring Chrysler’s commitments to those with secured debt, the President just handed over the corporation to Big Labor. It seems that those who should lawfully be at the front of the line will see at least a temporary reprieve from the administration’s heavy-handed intervention tactics. With hearings before the Supreme Court coming soon, I hope that the rule of law will ultimately be upheld and all parties receive a fair and adequate ruling.”