Even though Washington has approved the cap-and-trade climate legislation, Kathy Gornik, president of Lexington-based THIEL Loudspeakers and Bluegrass Institute chairman, points out why Americans have not done the same.
Click here to read Gornik’s article in Business Lexington on the disastrous legislation.
The cap-and-trade plan allows for a carbon emission trade market where if one company doesn’t use up all of its emissions, they can sell those emissions credits to a company on the verge of running out of allowances.
The National Black Chamber of Commerce found that this legislation would reduce the GDP by $350 billion, not to mention cut net employment by 2.5 million jobs.
Now is not the time to create yet another complicated and costly law that will harm businesses and taxpayers. Even environmentalists are disappointed with the 85 percent giveaway of carbon credits. So much for limited carbon emissions and “green” energy investments!
By Tabitha Waggoner, intern for the Bluegrass Institute