Gov. Perry: Cap and Trade Would Be Largest Tax Increase In U.S. History and Hurt Texas' Economy
Gov. Rick Perry has urged Texas leaders in Washington to vote against House Resolution 2454, the American Clean Energy and Security Act, which would amount to the single largest tax increase in U.S. history and hurt the Texas economy.
“By voting for H.R. 2454, you will be voting for the largest tax and the largest redistribution of wealth in history,” Gov. Perry wrote to Texas lawmakers. “I respectfully urge you to vote against H.R. 2454 and protect the citizens of the greatest state in the nation.”
In a letter to the Texas delegation, Gov. Perry highlighted the overwhelming burden this legislation would put on the backs of Texans according to a several studies:
• The Electric Reliability Council of Texas found that wholesale power costs in Texas could rise between $10 billion and $20 billion, with monthly bills increasing by $17 to $27.
• The Comptroller of Public Accounts estimates Texas could lose between 135,000 and 277,000 jobs by 2012 with the average Texas household annually paying $1,136 more for household goods and services, amounting to a $6.9 billion burden on Texas families.
• The National Black Chamber of Commerce found retail electricity rates to rise 7.3 percent in 2015 to 45 percent by 2050. They found transportation fuel costs to rise by 12 cents per gallon in 2015 and 59 cents per gallon in 2050.
“The state’s energy industry employs nearly 375,000 Texans with $35 billion in total wages. You can imagine the devastating impact H.R.2454 will have on jobs, families, local budgets and our state’s budget. Our public schools, with over 4.5 million students, depend on these revenues to operate,” Gov. Perry said.
Alongside Texas’ thriving oil, gas and chemicals industries, which supply a substantial portion of the energy and manufactured goods American’s depend upon every day, Texas is a leader in renewable energy expansion. Texas has more installed wind generation capacity than any other state and all but four nations, and is making considerable advancements to expand other new technologies like solar, biofuels and clean coal plants that will capture carbon dioxide.
With these achievements, Texas has also made more progress than any other state in cutting known pollutants like nitrogen oxides, sulfur dioxide, and volatile organic compounds – all while maintaining an economy that has outperformed just about every other state.
Texas is setting an example for the nation of how we can start expanding and utilizing clean, renewable energy sources and cut harmful emissions without overtaxing American consumers and destroying important components of our energy sector. Washington would be wise to take a page from Texas’ playbook.
To view the governor’s letter to the Texas delegation, please click the link below.