HUTCHISON-BOND GAS TAX REPORT
Senators Hutchinson and Bond are to be commended for an extensive review of the costs of the Waxman-Markey bill. The climate change legislation is essentially a $3.6 trillion gasoline tax that will devastate our economy. Consumers will pay more for food, clothing, and transportation to school and work. Businesses will have to cut more jobs in order to pay for the transportation of goods and services. Americans don’t need energy taxes; they need energy freedom!
Gov. George Allen
Latest Update: June 25, 2010
This report focuses on the tax the increase Kerry-Lieberman will place on gasoline, diesel and jet fuel. The Hutchison-Bond report calculated that Kerry-Lieberman would amount to a gas tax of $2.3 trillion–$7.6 trillion throughout the life of the bill (depending on the price ceiling and price floor). As you may be aware, the EPA did its own analysis on Kerry-Lieberman, in which it concluded the bill will be a $3.4 trillion tax.
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