“The Congressional Budget Office Director, Doug Elmendorf, appointed by the Democrats – a very honest man – and he testified before the Energy Committee that these cap and trade schemes will impose huge costs on the people they target directly when they hit those costs on businesses,” said Bond. “Businesses pass along those costs, dollar for dollar, to the people they serve.”
Speaking on behalf of farmers in Missouri and elsewhere in the Midwest, Bond expressed concern that farmers in this part of the country would take a much harder hit than those on the coasts.
“The burdens fall unevenly,” said Bond. “A farmer in the Midwest will pay 93 percent more for the taxes under cap and trade than farmers in the Northeast or on the Left Coast will pay.”
The U.S. House version of cap and trade legislation has passed that chamber. The Senate version still awaits legislative action, as opponents rally against it.
