WASHINGTON D.C. –
U.S. Senator Roy Blunt (Mo.) introduced a new amendment to the FY2016 budget last evening to protect families in Missouri and across America from a carbon tax, which would lead to skyrocketing energy costs for families nationwide.
Blunt’s new amendment, which is co-sponsored by U.S. Senator John Thune (S.D.), creates a deficit-neutral reserve fund related to carbon emissions, which may include prohibitions on federal taxes or fees imposed on carbon emissions from any entity that is the direct or indirect source of emissions. Blunt’s previous amendment was deemed non-germane. To read the text of the new amendment,
“Missourians overwhelmingly rely on coal for affordable energy. Unfortunately, President Obama is set on enacting costly energy policies that burden the poorest and youngest people in Missouri and across America,” said Blunt. “I hope the Senate will vote on this important amendment today to send a clear message to the Obama Administration: Americans simply cannot afford to pay higher utility bills resulting from these flawed policies.”
Missouri relies on coal for more than 80 percent of the state’s electricity needs,
to the Energy Information Administration (EIA). Blunt introduced a carbon tax amendment in
during the Energy Savings and Industrial Competitiveness Act debate; in
during the unemployment insurance bill debate; and in March 2013 during the FY14 budget debate.
According to a 2013
by the non-partisan Congressional Budget Office (CBO), Missouri electricity rates could increase by close to 30 percent if a price were put on carbon. A 2012 Consumer Expenditure Survey by the Bureau of Labor Statistics (BLS) found that more than 40 million American households earning less than $30,000 per year spend an average of
or more of their family budget on utility bills. A 2013 study by NAM found the overall impact of a carbon tax on American jobs would be staggering, with a loss of worker income equivalent to between
1.3 million and 1.5 million jobs
in 2013 and between 3.8 million and 21 million by 2053.