Polar Bears, Subsidies for Millionaires and Credit Card Fees
The Department of the Interior finds that polar bears are “threatened” under the Endangered Species Act.
The House of Representatives approves major new farm legislation.
Legislators consider capping the fees retailers pay to credit card companies.
New legislation aims to soften the impact of high energy prices on Americans.
1. ENVIRONMENT
The Department of the Interior finds that polar bears are “threatened” under the Endangered Species Act.
CEI Expert Available to Comment: Senior Fellow Iain Murray on what’s likely to follow from today’s announcement:
“Today’s listing does require a ‘high bar’ for evidence that particular greenhouse gas sources are causing actual harm to a particular population of polar bears. But the ‘high bar’ just delays the day when global warming activists will be able to impose their policy of energy suppression. Secretary Kempthorne obviously knows that this listing will have dire consequences, but his attempts to erect barriers to them will have all the strength of tissue paper. If anything, this listing shows the need for urgent reform of the Endangered Species Act.”
2. CONGRESS
The House of Representatives approves major new farm legislation.
CEI Expert Available to Comment: Adjunct Fellow Fran Smith on why the bill is a loser for consumers and taxpayers:
“If the Senate goes the way of the House, taxpayers and consumers will be paying the bills for a Farm Bill that increases farm subsidy programs, provides payments to millionaire farmers, and increases spending by about $20 billion, without any significant reform.”
3. FINANCE
Legislators consider capping the fees retailers pay to credit card companies.
CEI Expert Available to Comment: Center for Entrepreneurship Director John Berlau on competition in the credit card industry:
“Supporters of the [Credit Card Fair Fee Act of 2008] claim that credit card companies have excessive market power and are thus able to exert undue influence over interchange fees. In reality, the credit card marketplace is highly competitive, with four major players and several smaller entrants, along with emerging online payment services like PayPal.”
4. CONSUMER
New legislation aims to soften the impact of high energy prices on Americans.
CEI Expert Available to Comment: Senior Fellows Iain Murray and http://click.icptrack.com/icp/relay.php?r=7724602&msgid=102131&act=2ZYN&c=174876&admin=0&destination=http%3A%2F”>Eli Lehrer on why the bill actually leaves consumers last:
“The Consumer-First Energy Act of 2008 (S.2991), intended to address the energy crisis, fails to achieve its stated purpose. While it contains a few good ideas, it fails to implement those properly, and contains some very bad ideas that would make the nation’s energy situation worse. The legislation relies on a failed command-and-control model, when liberalization would achieve much better results.”
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FOR MORE INFORMATION
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