[StBernard] Fighting the Cap and Tax Proposal

[Westley Annis]

Dear  Friend,


	

Today California Senator Barbara Boxer and  Massachusetts Senator John Kerry
introduced sweeping new taxes on energy  consumption in the United States.
The proposal has often been called "Cap  and Trade," but it's more
appropriately titled "Cap and Tax." 

	

Economists across the political spectrum have made  clear that a
cap-and-trade scheme would wreak economic havoc across this  nation.  And
for a state like Louisiana, with our strong manufacturing  base and
significant domestic energy production, the proposal is particularly
damaging.

	

The Heritage Foundation estimates that by 2012, the  legislation would
result in 1.9 million fewer American jobs.    Louisiana can expect to lose
nearly 32,000 jobs.  And by 2035,  national net job losses would approach
2.5 million. 

	

The same study estimates that in the way of energy  costs, the typical
family of four will pay an extra $426 in energy costs by  2012.  By 2035,
that same family will pay an additional $1,241 in energy  costs. The
legislation would cause a 58 percent increase in gas and a 90  percent
increase in electricity prices.  And by 2035, the legislation  will have
added $5 trillion to the national debt, even as the federal  government
collects $5.7 trillion in revenues by auctioning credits.

	

I will adamantly oppose this Cap and Tax proposal and  its damaging impact
on Louisiana families and our economy.  In the words  of Democratic
Congressman John Dingell, "cap-and-trade is a tax.and it's a  great big
one."


Sincerely,
David Vitter
U.S.  Senator