Lame Policy for Lame Duck
David Kreutzer /
It seems that many in Washington had their books upside down when they studied economics. In the midst of a serious recession, they are proposing to jack up income tax rates, which would add hundreds of thousands to the already sky-high unemployment rolls. Now we hear that the Senate is thinking about forcing high-cost electricity on already struggling businesses and households, a policy that could put hundreds of thousands more out of work.
Senator Harry Reid (D–NV) recently indicated that legislation mandating a renewable electricity standard (RES) is a possibility for the lame duck session. The proposal was cheered on by a collection of special interests—many of whom are on the receiving end of the billions in subsidies already paid for renewable energy. (more…)