Statement on House Passage of Cap and Trade Legislation

As the lead Republican sponsor of the first increase in fuel efficiency standards signed into law in over 30 years and of legislation that ensures that America is generating a quarter of its electricity from renewable energy sources by 2025, I have been committed during my service in Congress to decreasing our reliance on foreign oil and promoting good environmental stewardship.  The “cap and trade” legislation (H.R. 2454) that came before the House of Representatives today, however, does not achieve these worthy goals in a fiscally responsible and balanced manner.  Rather, H.R. 2454 will harm our already struggling economy by increasing costs on consumers and driving American manufacturing jobs to countries with less stringent environmental safeguards. 

I voted against passage of the “cap and trade” bill because, especially at a time when our country is experiencing record high unemployment rates, we should not be adopting policies that would likely create further hardships for American businesses and families.  Under the bill, manufacturers and other employers in the United States would be expected to reduce carbon dioxide emissions by more than 80%.  The Congressional Budget Office (CBO) estimated the cost of the bill to the private sector as being $846 billion over the next ten years – before the strictest provisions of the bill even begin. Yet, there is great uncertainty about the amount of good the bill would even accomplish. 

China is already the lead emitter of greenhouse gases, and India is quickly increasing its emissions.  The “cap and trade” bill would do nothing to slow this trend.  In fact, this legislation will likely even accelerate this trend by sending jobs from America – where environmental standards are higher – to China and India. 

I will continue to strongly support sensible efforts to promote conservation, to further develop traditional domestic sources of energy in an environmentally-protective manner, and for the continuing development of alternative and renewable energy supplies.  Such an approach is a responsible alternative that would protect our economy while charting a long-term energy policy that sustains our environment for future generations.