The U.S. Senate is scheduled to debate and vote on the Lieberman-Warner "Climate Security Act" (S.2191 / S.3036) next week. This bill effectively imposes a massive hidden tax on carbon emissions through a cap-and-trade scheme.

A Congressional Budget Office (CBO) report estimates the federal government stands to generate an additional $1.2 trillion in revenues over a seven-year period between 2012 and 2018. In addition, the CBO projects private-sector regulatory mandates would amount to more than $90 billion per year from 2012 to 2016.

The bill would result in an enormous expansion in government regulation and mandates, reducing our personal liberties. The Environmental Protection Agency would be charged with the daunting task of establishing emissions allowances for thousands of American manufacturers and electricity generators.  A diagram developed by the Chamber of Commerce reveals the pervasiveness of this new regulation (go here for an explanation of the chart).

A recent Wall Street Journal column concludes the Lieberman-Warner bill would be "the most extensive government reorganization of the American economy since the 1930s." An analysis by the Heritage Foundation estimates a $1.7 trillion to $4.8 trillion loss in U.S. Gross Domestic Product (GDP) between 2010 and 2030. U.S. job losses could exceed 700,000 in 2015 alone. At this same time, American consumers would be faced with dramatic price increases in food and energy, putting a significant strain on family budgets.

The impacts in Minnesota are just as dramatic. Projections for Minnesota indicate we could see over $2 billion loss in Gross State Product , $2.3 billion loss in personal income and a loss of over 55,000 jobs by 2030.  According to the Heritage Foundation, Minnesota is projected to rank #1 in the nation in job losses per capita. 

With energy prices at record highs, the last thing we need is more government regulation that will drive-up the costs of gas, drive jobs out of our state and make us all poorer while special interests line their pockets with the spoils.  But for some reason, Minnesota Senators Amy Klobuchar and Norm Coleman have both decided to co-sponsor this legislation. They need to hear from concerned Minnesotans as soon as possible  A vote on this bill could come in the next several days.

TAKE ACTION:  Visit www.NoCapAndTrade.com to sign a petition and send an urgent message to your elected officials urging them to reject the Lieberman-Warner bill.

Additional Resources:

• OPINION:  Michele Bachman - 'Cap and Trade' more like 'Tax and Trade'
• ARTICLE: Cap and Trade Hits Minnesota the Hardest
• OPINION: Charles Krauthammer - The Radicals are Back, Now Wielding the Environment
• WHITE PAPER: The Economics of America’s Climate Security Act
• POLL: Overwhelming Majority of Americans Oppose Lieberman-Warner Global Warming Proposal
• VIDEO: Cap & Trade's impact on coal industry.
• ARTICLE: Coal-Cap Disaster