Commentary Magazine


Contentions

Cap-and-Trade Kaput?

The Hill has some rather significant news which seems to have eluded the rest of the media: cap-and-trade may go the way of card check (kaput). It reports:

The House may not vote on a climate change bill this year, according to a high-ranking Democratic leader. Rep. Chris Van Hollen (D-Md.) told The Hill on Monday that leaders could opt not to bring a climate measure to the floor if the bill has little chance of passing the Senate. Democrats, including Speaker Nancy Pelosi (D-Calif.), had previously indicated they would pass a climate bill through the House by the August congressional recess.

This has the makings of the same Alphonse and Gaston routine which signaled that card check was never going to make it out of the Senate.

And there is a hitch: cap-and-trade was supposed to be a revenue raiser, part of the funding source for healthcare. So if we are not going to extract hundreds of billions of dollars from Americans in the form of new energy taxes how are we going to pay for nationalized healthcare? That’s a good question for the Blue Dog Democrats who have always been quite concerned about PAYGO (paying for what Congress spends). And it is of course a challenge for the Obama administration which has already stretched its fiscal credibility to the breaking point with the existing $3.6 trillion budget.



Join the discussion…

Are you a subscriber? Log in to comment »

Not a subscriber? Join the discussion today, subscribe to Commentary »





Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor to our site, you are allowed 8 free articles this month.
This is your first of 8 free articles.

If you are already a digital subscriber, log in here »

Print subscriber? For free access to the website and iPad, register here »

To subscribe, click here to see our subscription offers »

Please note this is an advertisement skip this ad
Clearly, you have a passion for ideas.
Subscribe today for unlimited digital access to the publication that shapes the minds of the people who shape our world.
Get for just
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor, you are allowed 8 free articles.
This is your first article.
You have read of 8 free articles this month.
YOU HAVE READ 8 OF 8
FREE ARTICLES THIS MONTH.
for full access to
CommentaryMagazine.com
INCLUDES FULL ACCESS TO:
Digital subscriber?
Print subscriber? Get free access »
Call to subscribe: 1-800-829-6270
You can also subscribe
on your computer at
CommentaryMagazine.com.
LOG IN WITH YOUR
COMMENTARY MAGAZINE ID
Don't have a CommentaryMagazine.com log in?
CREATE A COMMENTARY
LOG IN ID
Enter you email address and password below. A confirmation email will be sent to the email address that you provide.