The Costs of the Cap-and-Trade Bill

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The Costs of the Cap and Trade Bill

By Robert Zubrin
Special to Roll Call

July 1, 2009, 9:45 a.m.

On June 25, the House passed the Waxman-Markey climate stabilization act, which would institute a cap-and-trade system to restrict Americans’ carbon emissions. While proponents of the bill have sought to argue that the costs of such a system would be negligible, nothing could be further from the truth. In fact, the bill proposes a massive and highly regressive tax on the U.S. economy, and could potentially cause not only extensive business failures, unemployment and privation within our borders, but starvation among poorer populations elsewhere.