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Congress is debating many issues that affect taxpayers, but one deserves immediate attention from Illinoisans: the Senate's new cap-and-trade climate bill, a mammoth national energy tax that would crush our struggling economy.
An internal Treasury Department memo recently revealed the Obama administration knows its own cap-and-trade plan could cost taxpayers $100 to $200 billion annually. The Senate's scheme could be just as destructive. This is an unconscionable policy, especially for states like Illinois that rely on carbon-intensive electricity.
The Senate legislation is also a hidden tax on the fuels Illinoisans depend on - gasoline, diesel, jet fuel, and home heating oil. Farmers, truckers, deliverymen, and many other workers would be hit hard as a result. Perhaps most ironically, this bill will have little to no impact on reversing global warming. If it does virtually nothing to address climate change and hurts us all with higher gasoline taxes, then why is Congress even considering it?
Illinois businesses and consumers need to stand together against this legislation, which amounts to the largest tax hike in American history. We invite your readers to join the National Taxpayers Union's campaign to stop Congress from raising our fuel bills. Senators Roland Burris and Richard Durbin need to hear just how bad cap and trade is.
Pete Sepp
Vice President for Policy and Communications
National Taxpayers Union
Alexandria, Va.
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