Although the House passed the Waxman/Markey climate change legislation this summer and succeeded in including a cap-and-trade scheme as part of the bill, it is not what is best for the American public financially or environmentally. When the Senate takes up energy legislation this fall, they instead should consider a carbon tax proposal that will reduce emissions and give money back to Tennesseans and Americans.



The cap-and-trade bill that passed in the House and that could be proposed in the Senate is a pork-laden bill that leaves no transparency and does little to help the environment. Solutions need to be offered that reduce the effects of climate change, but they need to be the right solutions. Th e answer to our problems is not a system that confuses the majority of the American public and lawmakers while increasing taxes on industry and the American family.



A carbon tax plan that returns 90 percent of the revenues from the tax in the form of tax relief to the people and businesses that use the taxed energy will reduce carbon emissions and offset the tax hikes and energy costs that Americans will pay. In a cap-and-trade scheme that money is absorbed by the government instead of being given back to the people who pay for it. In fact, a carbon tax that recycles its revenue would give nearly $3.6 trillion to households and businesses which would be large enough to reduce the annual payroll tax rate for workers and businesses by two percentage points and cut carbon emissions by as much as current cap-and-trade proposals.



Let’s find a solution to climate change that focuses less on making money to expand the government and more on helping the environment in a way that doesn’t harm Americans and American businesses!



Sincerely,



Helen Belcher