Are Carbon Tariffs Smoot-Hawley II?
Waxman-Markey contains a dangerous return to protectionism. The bill allows the president to impose carbon tariffs on imports whose companies have not reduced emissions. The paper com- pares these provisions to the 1930 Smoot-Hawley Act that sparked a trade war contributing to the Great Depression. China and India have already reacted harshly to threatened carbon tariffs. Union Giveaways and Green Construction Finally, the paper outlines how Waxman-Markey was designed to benefit Democrat’s union con- stituencies. All projects must meet Davis-Bacon requirements, which increase costs and favor union contractors. The bill also funds massive green jobs training programs, which are narrowly focused on benefiting minorities and “empowerment zone” communities.” And naturally paid for by America’s taxpayers. What a deal?
