Even though they were thumped on Election Day, the Democrats remain in control of the House of Representative and the have a 59-seat majority in the Senate, which will slip down to 58 when Illinois' Mark Kirk is sworn in at the end of the month. In January they'll posses just 53 Senate votes. My guess is that the Dems aren't bold enough to force through cap and trade, but they might try to tax energy in another way--by eliminating dual-capacity credits energy firms receive for taxes paid overseas. And by dropping the Section 199 tax deduction as well.
These new taxes could cost our nation 154,000 jobs, according to Louisiana State University economist Joseph Mason.
Will the Obama White House continue its assault on jobs?
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