Today Senators John Kerry (D-MA) and Joe Lieberman (I-CT) will release their long awaited climate legislation, the American Power Act. Details of the proposal remain unresolved, but the writing is already on the wall for taxpayers. The bill is loaded chock full of subsidies for nuclear and coal and strips important revenue from the taxpayers for royalties collected for offshore drilling in federal waters. All things TCS warned of in a recent letter to the Senate regarding climate legislation.
In response to today’s bill release Taxpayers for Common Sense President Ms. Ryan Alexander issued the following statement:
“Providing billions in giveaways to the profitable, well-established fossil fuel and nuclear industries is no way to limit carbon emissions. While climate change should be addressed taxpayers cannot afford to give away the store in the process. Any meaningful climate legislation must protect taxpayer interests and not be loaded with sweeteners for mature energy industries that do not need them.”
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