US Draft Climate Bill Could Spark House-Democrat Tussle
"The approach of giving away allowances to one special interest after another may have political appeal, but it is a costly and inefficient way to address climate change," Rep. Lloyd Doggett, D-Tex., said in a statement to Dow Jones Newswires. "And every allowance given away represents revenue denied to consumers."Remember, the alleged purpose of this bill is to improve the world's weather. Why don't opponents of this bill continually hammer on the complete insanity of that proposition?
Another Ways and Means member, Rep. Ron Kind, D-Wis., said there could be political peril for Democrats if consumers don't get a large enough benefit from the cap-and-trade system.
"The way to approach this is with 100% give-back to consumers," he said in an interview with Dow Jones. "If we don't we're going to be blamed for every rate increase for the next 50 years."