AMERICAN CLEAN ENERGY & SECURITY ACT, HR 2454

This bill which was passed by a narrow margin in the House of Representatives on Friday, June 26,  will have destructive effects on our already hurting economy.  According to the Heritage Foundation, HR 2454 will:

·         Reduce aggregate gross domestic product (GDP) by $9.4 trillion;

·         Destroy 1,145,000 jobs on average, with peak years seeing unemployment rise by over 2,479,000 jobs;

·         Raise electricity rates 90 percent after adjusting for inflation;

·         Raise inflation-adjusted gasoline prices by 58 percent;

·         Raise residential natural gas prices by 55 percent;

·         Raise an average family's annual energy bill by $1,241;

·         Result in an increase of $28,728 in additional federal debt per person, again after adjusting for inflation

Even President Obama conceded, “Under my plan of cap and trade system, electricity rates would necessarily skyrocket”, and he admitted that these expenses will be passed on to consumers.

As Tim Cameron explained in American Solutions, “Billionaire investor Warren Buffett supported Barack Obama's Presidential bid last year, and has never been a proponent of major tax cuts. But in an interview today with CNBC, Buffet slammed the new Energy Tax being voted on in Congress this week saying it is a ‘huge tax’ that will ‘harm an awful lot of people’.

While Buffett's opposition to this legislation underscores the damage the Energy Tax will do to our economy, you don't have to be a financial wizard to know that a massive tax increase isn't the cure to our ailing economy. In fact, it could turn this recession into the next Great Depression.”

HOW DID YOUR CONGRESSMAN VOTE?

FRANK KRATOVIL    VOTED    YES 

Call him at (443)262-9136