cross-posted from Main Street Insider
A couple weeks ago, we looked at new regulations on greenhouse gases (GHG’s) being imposed by the Environmental Protection Agency (EPA). This week’s episode focuses on a bill proposed as a response to these new regulations by House Republicans who oppose the EPA’s efforts. Contrary to what the title of the bill would suggest, this proposal has absolutely nothing to do with taxes. In fact, aside from the title, the word “tax” does not appear once in the text of the bill. The actual language of the bill shows that the real intent is to strip the EPA of power in the area of GHG’s and leave any decision making to Congress.
It should be noted that the EPA has been regulating air pollutants for over 40 years (just missed the 40th anniversary last December). Though regulating GHG’s is new, thanks to a 2007 Supreme Court ruling that declared GHG’s to be air pollutants, this type of EPA authority has been the status quo for a long time.