Pence on Cap and Tax

Taking on the president post-speech, Mike Pence (R-Indiana) on MSNBC. Video:P>S. A reminder of what a job-killer bill this is. Heritage.

And NRO:

The bill represents a terrible deal for American taxpayers. According to the Environmental Protection Agency, ACES is projected to impose costs averaging about $1,100 each year on every American household by 2050. What do we get in return? Even if the law works precisely as intended — not very likely — the grand result will be that, a century from now, we should expect surface temperatures to be a about one-tenth of one degree Celsius lower than they otherwise would be. Of course global warming will impose costs, but the expected costs of ACES are at least ten times the program’s expected benefits, even using the EPA’s cost estimates and assuming the full achievement of its goals.

Our green friends concede that ACES may be a terrible deal by itself, but insist that the United States should lead the world by example — and thereby achieve wider benefits. These hopes are vaporous: The strategy of unilaterally giving away our best negotiating leverage (reducing our emissions only if other nations reduce theirs) in the hope that those nice men who rule China will be shamed into sacrificing their own economic interest — if only we jump off the cliff first — is naïve. More fundamental, the global deal that we would theoretically be chasing isn’t all that attractive, even if we assume every climate-change prediction by the UN IPCC to be correct.

Oh, and it won't work.