Despite some easing over the past month, buying a tank of gas still takes a big bite out of the monthly budget — money that could be used for life’s other necessities.
Expensive energy squeezes hardworking Americans’ take-home pay and family budgets. And higher prices also put stress on job-creating small businesses, causing growth and profits to shrink. Worse yet, with the summer driving season just around the corner, increased demand could push the cost of gasoline even higher.
The voters have spoken, and they want a new Washington. Congressional Republicans have heard that message loud and clear: The Obama/Pelosi experiment has failed, and the American people want an end to their job-killing policies.
Republicans understand the people’s message, and we are ready to get to work. The votes of the Congress under Speaker Nancy Pelosi (D-Calif.) along with President Barack Obama’s unchecked regulations have forced businesses to ship jobs overseas and threaten to send energy prices sky-high.
These are challenging times, and our nation is at a crossroads. Our economy is ailing, unemployment is soaring, spending is out of control, and deficits are at record levels. And yet, rather than pursue sound policies that create jobs, the administration remains steadfast in its efforts to push ahead with its job-killing "cap-and-tax" scheme.
Nearly one year ago, the House first embarked on its cap-and-tax experiment. The carbon mandates under the House-passed bill would mean that the United States could not emit more in the year 2050 than we emitted in 1910, requiring us to scale back our emissions to a per capita level equivalent to that of the tiny coastal nation of Belize.
In February, as the nation’s 104 nuclear reactors were lighting and heating homes coast to coast, officials in the new administration signaled that they were pulling the plug on the Yucca Mountain repository for spent nuclear fuel. An alarmingly swift demise for Yucca Mountain despite 20 years of planning, more than $10 billion spent and more than $33 billion collected from ratepayers.
[IMGCAP(1)]In its haste, the administration neglected to address alternative plans to store spent fuel or express a thoughtful vision for the future of nuclear — it simply shut down work at Yucca Mountain, with complete disregard to the scientific community’s seal of approval on the integrity of the repository. It is confounding that the administration would pursue such a drastic shift in nuclear policy without offering viable solutions for managing spent fuel from the 104 reactors that dot the landscape in 31 different states.
These are very difficult economic times for our nation. Michigan in particular has been hit hard. Despite our dire economic circumstances, Congress is set to embark on a costly cap-and-tax scheme to address climate change, and it is the nation’s working families who are in the cross hairs.
The statistics are startling. According to a Massachusetts Institute of Technology model of a 100 percent auction cap-and-tax, the American people will be taxed $366 billion in 2015 — four times as much as the president’s estimate of $80.3 billion for that year. Job losses under such a plan could be more than 6 million. Increased energy costs would near $1 trillion in 2030. Increases in electricity costs could be more than 100 percent.
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