Hensarling Votes to Stop EPA Overreach
WASHINGTON – Congressman Jeb Hensarling (TX-05), chairman of the House Financial Services Committee, issued the following statement after the House of Representatives passed the Ratepayer Protection Act (H.R. 2042):
“Affordable and reliable electricity – whether it’s used to power a family’s home in Athens or a manufacturing plant in Mesquite – is essential to helping keep the American economy moving forward. Without affordable energy, American families and businesses have less money in their pockets to spend on their priorities, such as sending a kid to college or giving workers a raise.
“Instead of pursuing energy policies that will help keep electricity prices affordable and money in the pockets of Americans, the Obama Administration has done the exact opposite. Amongst the avalanche of red tape that this administration has dropped from Washington onto Main Street is a new Environmental Protection Agency (EPA) plan to regulate greenhouse gas emissions for existing power plants. This plan, which EPA is expected to finalize this summer, will set mandatory carbon goals for each state from existing power plants. Not only will this force the closure of numerous coal-fired power plants and impact electric reliability, but if this rule is implemented, Texas households could see their energy bills go up by an estimated 20 percent. The annual cost of this rule range from EPA’s estimated $7.5 billion to other projections as high as $34 billion.
“None of this should come as a shock to Americans, as President Obama said while running for president in 2008 that under his plan ‘electricity rates would necessarily skyrocket.’ That’s why the House has acted to protect them by passing the bipartisan Ratepayer Protection Act, which would empower states to protect families and businesses from EPA’s costly regulations by allowing them to determine whether or not EPA’s proposed standards are in the best interest of the state. Washington is drowning Main Street in a sea of red tape, and without relief – like the Ratepayer Protection Act – the American Dream will continue to drown right along with it.”