On February 9, the House Committee on Energy and Commerce’s Subcommittee on Energy and Power will hold a hearing on the discussion draft of legislation to strip the EPA of authority to regulate carbon restrictions based on the Clean Air Act. It would remedy harsh “greenhouse gas” emission restrictions imposed by the Obama Administration this past January 2.
According to experts cited in a press release from the National Center’s Center for Environmental and Regulatory Affairs, the new regulations could have a devastating effect on the national economy, and be particularly detrimental to the welfare of the poor and minorities.
As pointed out in the release:
According to Dr. Margo Thorning, chief economist at the American Council for Capital Formation, U.S. investment could decline by five to 15 percent — a decline as large as was seen at the beginning of the current recession in late 2007. Furthermore, the Affordable Power Alliance estimates 2.5 million jobs will be destroyed by 2030, and household incomes will decrease by $1,200 a year while consumer prices will increase. In particular, the Alliance points out the discriminatory nature of the new rule, noting: “The EPA regulation will impact low income groups, the elderly and minorities disproportionately, both because they have lower incomes to begin with, but also because they have to spend proportionately more of their incomes…”
Deneen Borelli, a fellow with the National Center’s Project 21 black leadership network, is concerned about this new threat to liberty and its tendency to hurt those needing the most help. She said:
President Obama is using the administrative power of the EPA to advance his war on fossil fuels. EPA regulation of carbon emissions will drive energy prices higher, which will negatively impact economic growth, job creation and — ultimately — liberty. The devastating effect of these regulations will fall most harshly on low- and fixed-income Americans, who will experience a reduced standard of living. This will drive more families toward government dependency. For liberty sake, Congress must reign in EPA gone wild.