Local Small Business Owners Meet to Discuss Cap and Trade Tax - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

Local Small Business Owners Meet to Discuss Cap and Trade Tax

Staff Report
NewsWest 9

MIDLAND - The Obama Administration is calling for a cap and trade Tax saying it's a National priority, but local small business owners don't agree.

Congressman Mike Conaway and members of the Midland and Odessa Chambers of Commerce spoke out against the measure on Monday.

The tax would establish a cap on the production of carbon dioxide and then sell allowances to people who do.

It's all part of an effort to cut down on emissions and create new forms of cleaner energy.

Plus, the Obama Administration says it would create revenue.

But opposers say the cap would lead to more taxes and fewer jobs, and those with low and fixed incomes would be on the losing end.

"M.I.T. has estimated that it's about 3,100 a year, per family, increased cost of energy and goods and services. It's a very regressive tax in that, it's not scaled to the ability to pay.  It's just everybody pays it.  So that's the worst impact on it," Congressman Mike Conaway, said.

Conaway says T.E.A. (Taxed Enough Already) party movement organizers might be looking at July fourth as the date of another event. 

He thinks the cap and trade issue could be a new reason for them to talk about the overreach of the federal government.

Powered by Frankly