The Corner

Cap-and-Tax Collapse

This is good news. I especially like this victory paragraph in this morning Wall Street Journal’s Review & Outlook:

Please pass Al Gore a Valium — and better make it a double — because his cap-and-trade dreams just took a dive in the U.S. Senate. In a vote late Wednesday, no fewer than 26 Democrats joined all 41 Republicans to insist that any new cap and tax on carbon energy would require at least 60 votes.

However, this vote doesn’t mean that the policy is completely dead. As the Journal warns:

Now look for Team Obama to attempt to impose cap and tax the non-democratic way, via regulation that hits business and local governments with such heavy costs that they beg Congress for a less-harmful version.

Read the whole thing here.

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