Sen. Cornyn: Texas Would Suffer Major Losses Under Cap-And-Trade

U.S. Sen. John Cornyn, R-Texas, today issued the following statement regarding President Obama's cap-and-trade proposal, which is scheduled to be voted on by the House of Representatives today:

"President Obama this week sought to sell his cap-and-trade proposal to Texans by calling it a win-win-win-win-win proposition. As the number one energy producing state in the nation, Texans know firsthand that this is patently false, and his harmful cap-and-trade tax proposal would impose the largest tax increase in American history and result in major losses for Texans across the state. Texans will lose jobs, our economy will lose revenue, and families will pay for higher energy bills. The best way to achieve economic, environmental, and energy security is by encouraging more nuclear energy generation and domestic energy production. Yet, the President's cap-and-trade proposal would do the opposite by shackling domestic energy production with more red tape and restrictions. I call on all Texans to join me in opposing cap-and-trade and similar misguided policies that conceal the true cost to taxpayers and only further our dangerous dependence on foreign energy."

Sen. Cornyn serves on the Finance, Judiciary and Budget Committees. He serves as the top Republican on the Judiciary Committee's Immigration, Refugees and Border Security subcommittee. He served previously as Texas Attorney General, Texas Supreme Court Justice, and Bexar County District Judge.