Full Disclosure of Cap-and-Trade Act Sought

The Republican Study Committee is reporting:

Rep. Chaffetz seeks original cosponsors for Cap-and-Trade Tax Disclosure Act

Washington, Apr 29 - Rep. Jason Chaffetz is seeking original cosponsors for the Cap-and-Trade Tax Disclosure Act which will require utility companies to disclose and separately itemize the impact of cap-and-trade taxes on each customer’s utility bill. Sound tax policy requires that taxes should be visible to taxpayers and not buried in the cost of items we purchase. With this legislation, every utility customer – residential and business -- will be able to identify the cost of cap-and-trade emissions that the utility is passing on to the customer. As regulated entities, utilities pass taxes on to customers, unlike unregulated companies that can also pass taxes on to shareholders and employees. The cap-and-trade tax is potentially the largest tax increase ever imposed. According to the Administration’s own budget document, the cost will be at least $646 billion over an eight-year period. No matter where you stand on the issue of cap and trade, both sides can agree that full disclosure and transparency are good public policy.

Please call your Representative and request support this effort. Find your Representative HERE.