Marathon Pundit: Waxman's cap-and-tax bill delayed

Tuesday, April 28, 2009

Waxman's cap-and-tax bill delayed

The extreme left of the Democratic Party, emboldened by the election of Barack Obama, has been pushing a so-called climate bill, often called cap-and-trade, which the Republicans call cap-and tax.

But some Democrats, particularly those from northern industrial states, have balked at supporting what Rep. John Dingell of Michigan calls a "great big" tax.

And that's exactly what it is.

Rep. Henry Waxman represents a district that includes Beverly Hills, the type of place where impractical ideas such as cap-and-trade are the rage.

But Beverly Hills is not America, and Waxman, the author of the cap-and-trade bill, is learning this fact, as the Wall Street Journal reports:

House Energy and Commerce Committee Chairman Henry Waxman delayed until next week further action on his big climate bill, amid sharp divisions among committee Democrats.

The delay indicates that the House Democratic leadership is having difficulty rounding up votes to move the bill forward, amid disagreements over which industries and regions of the country should bear the burden for cutting greenhouse-gas emissions. Democrats from industrial and coal-dependent states have expressed concerns that the climate bill would sharply raise energy costs and hurt the economy in their states.

"The hearings have spurred productive discussions between members on the legislation, which are continuing this week," Rep. Henry Waxman (D, Calif.), chairman of the House Energy and Commerce Committee, said in a memo to members.

Mr. Waxman and Energy Subcommittee Chairman Ed Markey (D, Mass.), had scheduled to mark up the American Clean Energy and Security Act this week. The main provision of the bill would mandate major greenhouse-gas-emission cuts and require emitters to buy and sell the right to emit gases such as carbon dioxide. It would also require a rising percentage of power to come from renewable-energy sources.