The seven Blue Dogs on the Energy and Commerce Committee stormed out of a Friday meeting with their committee chairman, Henry Waxman (D-Calif.), saying Waxman had been negotiating in bad faith over a number of provisions Blue Dogs demanded be changed in the stalled healthcare bill.
“I’ve been lied to,” Blue Dog Coalition Co-Chairman Charlie Melancon (D-La.) said on Friday. “We have not had legitimate negotiations.
via TheHill.com.
To get support for his bill, Mr. Waxman was forced to water down the cap in early years to please rural Democrats, and then severely ratchet it up in later years to please liberal Democrats. The CBO’s analysis looks solely at the year 2020, before most of the tough restrictions kick in. As the cap is tightened and companies are stripped of initial opportunities to “offset” their emissions, the price of permits will skyrocket beyond the CBO estimate of $28 per ton of carbon. The corporate costs of buying these expensive permits will be passed to consumers.