Summarizing what he took away from the report and hearing, Wright said, “It is clear that this cap and trade will have no impact at all on climate change. It will add significant cost to business and threatens the economic future of this state. The cap can be achieved without the trade. Trade encourages gaming of the system and has the very real potential to drive business away.”
At the hearing, Wright testified that every time we have made a unilateral change it has been devastating to the economy, pointing to the departure of the Firestone and Uniroyal plants in Los Angeles. He used the example of truck stops popping up just outside our state’s borders, where truckers fill up before entering the state to avoid additional California taxes, as a scenario where businesses find a way to get around California regulations and California loses out on hundreds of millions each year in sales tax revenue.
Saturday, September 15, 2012
CA Democrat Senator: Cap and Trade Kills Jobs
This is a shocker. A CA Dem admits Cap n Trade is a disaster for CA.