There is a lot of buzz and speculation about the introduction of the cap and trade laws. Many speculate that it will be a job killer and open up the necessity for deep cuts in manufacturing, which in turn will impact the machining industry. Here’s a recent article that may be of interest to you. Is your machine shop at risk?
On June 26, the House passed a cap and trade bill that is expected to dramatically increase the cost of energy. The American Clean Energy and Security Act (H.R. 2454) establishes an economy-wide cap on carbon emissions and creates emissions credits. Companies would then buy and sell credits to emit more carbon. The goal is to force the economy to use renewable energy sources by increasing the cost of traditional sources. Many of the alternative sources have yet to be invented or discovered.
Manufacturers are concerned about the impact of skyrocketing energy prices in America. Many fear that the energy tax would force companies to outsource work to low-cost Asian countries such as China and India.
NTMA/PMA One Voice lobbied aggressively to prevent the passage of cap and trade, however, it passed by a narrow margin, with more than 40 Democrats voting against the bill. To see how members of Congress voted on this legislation, click here.
The Senate is expected to consider cap and trade this summer. One Voice will continue to lobby against this job-killing legislation. You can tell your Senators to vote against cap and trade by clicking here.