Washington, D.C. – The U.S. House of Representatives today passed H.R. 2454, the so-called Cap and Trade bill.  Congressman John Mica (R-FL) made the following statement.
        “The Cap and Tax bill could not come at a worse time and could be a job killer.  The 1,200 page measure will impose a national tax on ALL energy and lead to higher energy prices for ALL American households,” said Congressman Mica.  “Most families cannot afford the estimated $1,400 yearly increase in energy costs.  With the economy struggling, this bill, with its increased expense to industry, will cause additional unemployment by sending jobs overseas where doing business is cheaper.  This bill also further expands the role of government by imposing new restrictions and requirements on everything from light bulbs to water dispensers.”
                    Mica, who is the Republican Leader of the Transportation and Infrastructure Committee, added, “Transportation accounts for 30% of greenhouse gas emissions.  This legislation contains significant provisions in the committee’s jurisdiction, yet we held no hearings on this massive tax increase, and willingly surrendered our responsibility to consider any amendments to try to improve the bill.”
      

       According to the Heritage Foundation, by 2035 this Cap and Trade bill would:
        ◊ Reduce aggregate gross GDP by $9.4 trillion (or reduce Florida gross state product by ?   $28 billion);?        

    ◊ Raise electricity rates 90 percent;?        

    ◊ Raise gasoline prices by 58 percent;?        

    ◊ Raise residential natural gas prices by 55 percent; and?

◊ Increase inflation-adjusted federal debt by 26 percent, or $28,728 additional federal ?   debt per person.