Earlier this month, Americans for Tax Reform (ATR) released an updated version of their booklet, Energy Tax Analysis. The report includes seven new areas of interest and thoroughly examines current energy laws, President Obama’s proposals, and their disastrous effects for the energy sector.
Pennsylvanians’ electricity bills and gas prices will soar if these proposals are passed. A federal renewable portfolio standard (RPS) would tighten Pennsylvanian’s already existing RPS, which will cause electricity prices to skyrocket, and rejects municipal solid waste and hydroelectric power as renewable sources.
Additionally, ATR notes that voting for many of President Obama’s proposals would be an infringement of the Taxpayer Protection Pledge, signed by seven members of Pennsylvania’s Congression delegation (six House members and Sen. Specter).
The government should not be picking winners and losers; unfortunately that is what these proposals do, much like the failure of the government’s subsidies on corn ethanol resulted in both an inefficient fuel, higher prices for corn, water shortages, and increased pollution. ATR concludes these proposals will result in higher prices and more inefficient energy sources.