Failed EPA Votes Undermines Economy
Dan Holler /
United States Senators went on record this afternoon and the result was unfortunate. 53 Senators voted against a resolution offered by Senator Lisa Murkowski (R-AK) that would have disapproved of the Environmental Protection Agency’s backdoor global warming regulations. Today’s outcome was a victory for anti-growth environmentalists, but a devastating loss for the American people.
The EPA’s regulations will marginalize any potential economic recovery by making investment and job creation more expensive. Why? Because the costs of regulation are staggering. The EPA estimates the average permit will cost applicants $125,000 and 866 hours of labor. Some businesses will simply close. The lucky ones will move overseas, cancel expansion plans and just lower wages. All of those are bad options considering the American economy has lost nearly 8 million jobs over the past 30 months.
Despite the outcome of today’s vote, many liberals recognize the EPA cannot be left to its own devices, which means there will be other, more subtle efforts to limit the EPA’s regulatory dragnet. (more…)