Monday, May 25, 2009

Cap & Trade Update

The 946 page Cap & Trade bill is currently running its course through Congress, and it looks like it will be even more costly than originally thought. One of the benefits that are being touted about this bill is job creation:

“Title IV, Subtitle B, Part 2, Section 426, of the American Clean Energy and Security Act of 2009 states: ‘An eligible worker (specifically, workers who lose their jobs as a result of this measure) may receive a climate change adjustment allowance under this subsection for a period of not longer than 156 weeks…80 percent of the monthly premium of any health insurance coverage…up to a maximum payment of $1,500 in relocation allowance…and job search expenses not exceed[ing] $1,500.’”

One can assume that the people writing this bill are not too sure of the job creation; why else would these provisions by written in?


LL said...

The stimulus package isn't designed to stimulate the economy. It was a pork-barrel bill that by their own admission, the legislators didn't read.

The US is getting by with smoke and mirrors at the moment, hoping that will fix things. But it won't and they know it won't.

Chuck said...

Good point. It seems as if losing ones job could become quite profitable

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