In today’s Washington Examiner, the U.S. Chamber of Commerce ran an ad where its President and CEO Thomas J. Donohue warns that the Waxman-Markey climate change bill “would put U.S. businesses at a disadvantage, would violate our international trade obligations and could incite a devastating trade war that would cripple American exporters.”
The cap-and-trade system–together with the carbon tariffs and border adjustments suggested in the bill–will be harmful for U.S. businesses, and as Donohue points out, “would not be a good idea in the midst of the worst recession since the Great Depression.”
As CEI Energy Policy Analyst William Yeatman and former CEI Warren Brookes Fellow Jeremy Lott highlighted, the Waxman-Markey bill contains 397 new regulations. The economic cost estimates are staggering, so the business community is understandably extremely concerned.
Mr. Donohue’s full statement can be found here.