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Tell Your Representatives in Albany to Stop the RGGI Cap and Trade Tax!

December 14, 2011

Tell Your Representatives in Albany to Stop the RGGI Cap & Trade  Tax!

Alert from our friends at New York Liberty Report o/b/o AFP:

No Cap and Trade  Why RGGI Should Be Repealed  in New York:

NY’s Participation in RGGI  is Unconstitutional:  No  legislation, participation through Gov. Pataki’s  Memorandum of Understanding  and Gov. Paterson’s Executive Order  Taxation without representation  A lawsuit has been filed in NYS Supreme Court  challenging it’s  constitutionality

Increases Costs to Energy:  $900 Million in permits  (as of 9/2011) sold as a  requirement to energy plants that emit CO2  Increased cost of production passed on to consumers,  considered an ultra vires  tax  Rates for electricity could increase anywhere from 2%  to 23%  according to the Associated Industries of Massachusetts (A.I.M.)  NYS has  the 2nd highest electricity costs according to  the Small Business &  Entrepreneurship Council’s 2010 Energy Cost Index (which cited data for 2008  through October from the  U.S. Energy Information Administration)  NYS  electricity prices are 58 percent higher than the  national average

Lack of Transparency:  The RGGI program operates in  secret with little know  about who is trading on this government-created carbon  commodities market  RGGI has refused open records requests claiming they   are a non-governmental agency despite having been created by ten state   governments  To date, RGGI has not released information regarding  salaries  and benefits paid to RGGI bureaucrats  Companies trading on this carbon  commodities market  are unknown – only a list of prospective bidders is released  Prospective bidders are a “who’s who” of Wall Street  firms, including  Goldman Sachs, Merrill Lynch, Morgan Stanley and JPMorgan  Chase

RGGI is Ineffective:  According to RGGI’s own  consultants, there will be no  drop in CO2 emissions for two decades due to RGGI  bureaucrats setting the cap  too low  Gov. Christie said “This program is  not effective in  reducing greenhouse gases and is unlikely to be in the future.  The whole system  is not working as it was intended to work. It is a failure.”

“RGGI has not changed behavior  and it does not reduce emissions,” Christie  said. “RGGI does nothing more than  tax electricity, tax our citizens, tax our  businesses, with no discernable or  measurable impact upon our environment.”

Adverse Affects on Plants  and Communities:  Making it  difficult for energy producing plants to  stay in business, threatening closures  Loss of good paying jobs  Loss of tax base directly affect the  county, towns and  school districts  $326,693,566 taken out of economy in  NY due to the  required purchase of permits  $90 Million diverted by  Governor Paterson to balance  the FY 2010 budget, not to the green initiatives  it was intended for  The costs associated with this regulation contributes   to NYS’s 50th rating in Business Climate

Bottom line: RGGI is  unconstitutional, ineffective, lacks  transparency, drives electricity costs up,  and puts jobs and communities in  jeopardy.

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