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lquadland10 (< 20)

New Tax on the Way for all Americans. Obama seeks carbon emissions cap

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February 24, 2009 – Comments (1) | RELATED TICKERS: ABX , GLD , AUY

My plan just calls for corporations to put the carbon filters on the plants that pollute. Hence clean air. But that would just be to easy.The only 2 things I heard we better pay for the military. Ending the tax credit for corporation that ship jobs overseas. I wonder if that will happen.

WASHINGTON (Reuters) – President Barack Obama on Tuesday called on Congress to send him legislation that places a market-based cap on U.S. carbon polluting emissions and pushes the production of more renewable energy.

In his first speech to a joint session of Congress, Obama said that "to truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy."

He said his budget proposal to be released on Thursday will invest $15 billion a year on wind and solar power, advanced biofuels, clean coal and American-built cars and trucks that are more fuel efficient.

"We know the country that harnesses the power of clean, renewable energy will lead the 21st century," said Obama, who took office five weeks ago.

However, he said while the United States invented solar technology, America has fallen behind Germany and Japan in producing it.

While new plug-in hybrid vehicles roll off U.S. assembly lines, Obama said they must run on advanced batteries made in South Korea.

To address those shortcomings, he reiterated his goal to double U.S. renewable energy production over the next three years and touted the billions of dollars his administration will invest in energy research.

"We will soon lay down thousands of miles of power lines that can carry new energy to cities and towns across this country. And we will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills," Obama said.

(Reporting by Tom Doggett, Editing by Frances Kerry)

 

1 Comments – Post Your Own

#1) On February 24, 2009 at 11:57 PM, kerg01 (< 20) wrote:

The funniest part of the evening was when he said he wouldnt raise one dime of taxes on people making < 250K....

Wonder what he thinks inflation is?  I tend to call it a tax myself and its coming to a theatre near you....

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