Friday, April 03, 2009

Cap-and-Tax: Delayed

The good news:

Barack Obama suffered a major defeat in his quest to impose a cap-and-trade system on the US energy sector last night, as the Senate formally rejected any attempt to pass such a scheme through budget reconciliation rules. In fact, two-thirds of the Senate voted against such a move, with 26 Democrats crossing the aisle to protect the filibuster for cap-and-trade legislation (via The Corner

Not too hard to figure this out. The Lightworker (darkworker, really) wants to impose a $1.9Trillion tax, using the utilities as the collectors. That tax will fall most heavily on the Midwest.

And for coal-producing States, the effect will be long-lasting unemployment.

Some folks don't like that idea, including at least one Wisconsin Senator.

HT: Ace

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