The WSJ editors write that ten Democratic Senators are insisting that carbon tariffs be a part of any Obama Energy Tax legislation. An excerpt:
President Obama says his cap-and-trade energy tax won’t hurt the economy, but at least 10 Senate Democrats disagree. Last week they sent Mr. Obama a letter demanding that any bill taxing U.S. CO2 emissions must include a carbon tariff “to ensure that manufacturers do not bear the brunt of our climate change policy.”
Hmmm. This sure sounds like an explicit admission that cap and tax would add so much to the cost of doing business in the U.S. that it would drive factories and jobs overseas. The 10 mostly liberal Senators come from states like Ohio, Michigan and West Virginia whose economies rely heavily on manufacturing and coal. “We must not engage in a self-defeating effort that displaces greenhouse gas emissions rather than reducing them and displaces U.S. jobs rather than bolstering them,” wrote the Senators.
Of course, as Henry Payne notes below, at least one senator argues that 1) cap-and-trade won’t hurt U.S. jobs; and 2) we need tariffs to protect U.S. jobs from the effects of cap-and-trade.





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