**UPDATE: American Power Act legislative text now available.**
Washington, DC – After months of behind-the-scenes horse-trading and corporate deal-making, Senators John Kerry (D-Mass.), Lindsey Graham (R-S.C.) and Joe Lieberman (I-Conn.) finally unveiled their global warming measure, The American Power Act. However, they have yet to release the actual legislative text, which will include the all important details of exactly what these senators seek to regulate tax and subsidize.
Thomas J. Pyle, president of the market-based Institute for Energy Research (IER) issued this statement on The American Power Act:
“Until we see legislative text, there is not much to say other than it is obvious that these Senators designed this bill with specific corporate and Wall Street interests in mind. It’s unfortunate that as the economy continues to struggle and unemployment remains at near double digits, the American consumer and worker did not receive a seat at the negotiating table.
“Once the American people find out that this bill will increase prices at the pump with a gas tax, jack electricity rates with cap-and-trade and ship more American jobs overseas, they will most certainly reject this deeply flawed proposal.”
FOR IMMEDIATE RELEASE:
May 12, 2010
Patrick Creighton: 202.621.2947
Laura Henderson: 202.621.2951