It would be a bureaucratic nightmare overseen by a confusing web of government agencies that would take and redistribute trillions of dollars from family budgets and workers payrolls. This, we also know. Even Agriculture Committee Chairman Collin Peterson (D-MN) admitted in the Washington Post this morning that: “The truth is, nobody knows for sure how this is going to work.” How encouraging.
But what don’t we know? Here are some facts you may not know about Speaker Pelosi’s national energy tax:
Homebuyers Beware. Trying to save up for a new home? You may have to save up a little longer for your purchase. The Democrats’ bill would dramatically increase new home costs by mandating California’s expensive new building codes for the entire nation. Immediately upon enactment, the Democrats’ bill would demand a 30 percent increase in energy efficiency for new construction. A couple of years later, the Democrats’ bill would require an additional 50 percent improvement. These numbers were chosen with no concern for cost to consumers or feasibility in implementation.
Homebuilders Beware. The Democrats’ bill imposes new mandatory regulations and civil penalties for homebuilders. If your state refuses to accept the stringent and costly California building codes, the federal government may assess penalties. And don’t get too comfortable with the new mandatory regulations because the Democrats’ bill allows for “consensus-based” codes to supplant those outlined in the bill. So, as soon as you’ve invested your hard-earned money to comply with the bill’s mandates, the rug could get pulled from underneath you. Translation? You’ll pony up more and more money.
Home Sellers Beware. Having a hard time selling your home? Here’s one more hurdle to jump: all homes sales are conditioned upon an energy audit and a new energy rating assessment and energy labeling program for your home that’s outlined in the Democrats’ bill. And if you thought you could improve your property with a fresh coat of paint and some granite counters? Think again! Now your home will be subjected to a new energy rating assessment and energy labeling program that will penalize you for older windows, original fixtures, and dated appliances. So the Democrats’ bill would bring down the value of your home!
New Lights No Matter the Cost. As early as 2012, the Democrats’ bill eliminates all existing lighting technology used in many outdoor lighting fleets (parking lots, stadiums, secured facilities like power plants and factories). Just as an example, switching to the mandated technology in the bill will cost one small utility about $30 million in annual revenue. So you now have to comply with the new mandates for new lighting? Hold the phone. It is not clear that a feasible alternative technology is available for every existing lighting application – regardless of cost – which could force some businesses to close.
The consequences of Speaker Pelosi’s national energy tax for families and small businesses are real. It will drive up energy costs, send millions of jobs to countries like China and India, and place an especially heavy burden on rural America. There is a better way. House Republicans have proposed the American Energy Act, legislation that represents the fastest route to a cleaner environment, lower energy costs, and more American jobs. The legislation would:
- Increase environmentally-safe energy production on remote lands and far off our shores;
- Promote the use of alternative fuels that will reduce carbon emissions, such as nuclear, clean-coal, and renewable energy technologies; and
- Encourage increased efficiencies and cutting edge technologies to maximize America’s energy potential.
Today’s vote on Speaker Pelosi’s ill-advised national energy tax will have consequences for every American. It is a bad deal for America. And the American people will remember how their Members of Congress vote.Home Sellers Beware. … all homes sales are conditioned upon an energy audit and a new energy rating assessment and energy labeling program for your home that’s outlined in the Democrats’ bill. … Now your home will be subjected to a new energy rating assessment and energy labeling program that will penalize you for older windows, original fixtures, and dated appliances. So the Democrats’ bill would bring down the value of your home!This should do wonders for the real estate meltdown.