Congress is debating the largest tax increase in history, the cap-and-trade energy tax.
Cap-and-trade is a tax on coal, oil, and natural gas but instead of being a specific tax rate, the total level of use is capped and companies are forced to pay the government for emissions permits. They bid against each other to stay in business, and nobody knows how much the tax will be until they hold the auctions.
It's a crazy, unpredictable tax, but it's certainly a tax.
The Pelosi/Reid/Obama strategy is to hide the gigantic tax hikes they want to fund their bailouts and big government spending inside a global warming bill. The U.S. House of Representatives has been holding hearings all week to move forward on this scheme.
Last year, among friends in San Francisco, Obama explained what his cap-and-trade energy tax is supposed to do to ordinary Americans:
"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket... whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers."
There is one simple way to put members of Congress on the record and figure out if this is about the environmental at all, or just an excuse to hide a big tax increase: Ask them to sign the Americans for Prosperity No Climate Tax Pledge, which pledges members to "oppose any legislation relating to climate change that includes a net increase in government revenue."
So far we have over 100 lawmakers on the federal, state and local level. To stop this massive, hidden tax hike we need a lot more and we need your help!