Where Do Indiana Dems Stand on the Perils of a National Energy Tax?

May 15, 2009

FYI, a version of these release went out to the following targeted districts: Rep. Donnelly (IN-02); Rep. Brad Ellsworth (IN-08) and Rep. Baron Hill (IN-09).

Where Does Baron Hill Stand on the Perils of a National Energy Tax?
Cap-and-Trade Legislation Imposes Higher Taxes on Struggling Hoosier Families

Washington – As Congress is set to markup cap-and-trade legislation next week before its Memorial Day Recess, Hoosier families have a right to know where Rep. Baron Hill (D-IN) stands on the legislation, which will do nothing but potentially double their utility bills at a time when many Hoosier families are struggling to make ends meet.

Indiana Governor Mitch Daniels explained the negative effect cap-and-trade would have on his constituents in today’s Wall Street Journal:

“The Waxman-Markey legislation would more than double electricity bills in Indiana. Years of reform in taxation, regulation and infrastructure-building would be largely erased at a stroke. In recent years, Indiana has led the nation in capturing international investment, repatriating dollars spent on foreign goods or oil and employing Americans with them. Waxman-Markey seems designed to reverse that flow. ‘Closed: Gone to China’ signs would cover Indiana’s stores and factories.” (“Indiana Says ‘No Thanks’ to Cap and Trade,” Wall Street Journal, 5/15/2009)
According to another article published in the Wall Street Journal, the negative effects the legislation would have on the entire middle-class in America would be massive:

“The Congressional Budget Office…estimates that the price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year. That’s about $680, not including the costs of reduced employment and output. The three middle quintiles would see their paychecks cut between $880 and $1,500, or 2.9% to 2.7% of income. The rich would pay 1.7%.” (“Who Pays for Cap and Trade?,” Wall Street Journal, 3/9/2009)
“The last thing Hoosier families need right now is another massive tax hike courtesy of Democrats in Washington,” said NRCC Communications Director Ken Spain. “In these difficult economic times, Baron Hill’s constituents have a right to know where he stands on a National Energy Tax. Does he stand with them or his liberal leaders in Washington?”