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Cap and Trade, GM's Bankruptcy and BPA

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Cap and Trade, GM's Bankruptcy and BPA

Utilities worry about the costs associated with proposed “cap and trade” legislation for greenhouse gases.

General Motors files for bankruptcy.

Manufacturers fight off a proposed ban on an ingredient in plastics called bisphenol A, or BPA.

For more news, listen to the LibertyWeek podcast here.

1. ENVIRONMENT 

Utilities worry about the costs associated with proposed “cap and trade” legislation for greenhouse gases.

CEI Expert Available to Comment: Special Projects Counsel Hans Bader on what this is going to cost the American people

“In reality, Obama’s proposed ‘cap-and-trade’ tax is likely to raise $2 trillion over the next decade, far more than even [economist Martin] Feldstein anticipates. That’s far more than the $646 billion the Administration earlier estimated — amounting to at least $3,100 per family per year. And that figure may be dwarfed by the amount of money siphoned from consumers to well-connected corporations that have learned how to game “cap-and-trade” schemes.” 

 

2. BUSINESS

General Motors files for bankruptcy.

CEI Expert Available to Comment: Director of the Center for Investors and Entrepreneurs John Berlau on why the GM reorganization plan is a mistake

“The Administration’s reorganization plan, in which the government owns more than 70 percent of the stock will not serve taxpayers, middle-class investors or ultimately the American auto industry and its workers well. There is no reason why the taxpayer money outlayed to GM – a mistake of both the Bush and Obama administrations – justifies the Obama administration’s demand for such a large ownership stake for the government and the United Auto Workers. The Chrysler bailout of the 1980s, while a troubling precedent for government rescues of industries, was resolved with taxpayers reimbursed without any government ownership stake.” 

 

3. HEALTH

Manufacturers fight off a proposed ban on an ingredient in plastics called bisphenol A, or BPA.

CEI Expert Available to Comment: Director of Risk and Environmental Policy Angela Logomasini on the advantages of using BPA

“Industry would be wise to focus widely on all the benefits BPA provides for consumers–from packaging to medical devices to safety goggles. Our value-based communications project highlights how businesses can fight back needless and counter-productive legislation by communicating the value their products bring to individuals. Indeed, industry needs to focus on legitimizing its role in society if they are ever going to stay afloat.”

 

Listen to LibertyWeek, the CEI podcast, here.