New Senate ad hoc committee looks at costs of cap and trade tax
Sen. Sylvia Allen will chair a new Arizona Senate ad hoc committee on climate initiatives to educate the public about cap and trade tax legislation and the cost to citizens and our economy. The first meeting is set for Monday, June 8 from 8:30 a.m. to noon in Senate hearing room #1.
Sen. Allen is concerned about how much misinformation the public is getting about benefits of cap and trade legislation and how much of the costs get passed to the consumers. “Consumers would see a rising cost in all goods due to the fact that everything produced takes energy. The public needs to know that the costs to businesses for more energy would also be passed on to them,” she said.
A study by CRA International details the economic impact of a cap and trade tax. The most important conclusion the research cites is that, contrary to some claims that have been made recently, policies such as the federal American Clean Energy and Security Act will have a cost to consumers.