Rush Limbaugh's Morning Update: Son of a Cap and Tax

Rush Limbaugh: The Washington Post reports a private meeting was held last week between environmentalist wacko leaders and three senators: Joe Lieberman, Lindsey Grahamnesty, and John Kerry (who, by the way, served in Vietnam). Supposedly, the wacko leaders were told that cap-and-tax, the plan to combat supposed manmade greenhouse gases, was "dead."

The three senators had been working to produce a cap and tax plan to counter the House cap and tax plan, but now, says the Post, they're "engaged in a radical behind-the-scenes overhaul of climate legislation," because the original plan Democrats wanted has become "political poison."

"Sources familiar with the process" say that the new plan targets three sectors of the economy: electric utilities, transportation, and industry. Power plants would face emissions caps, which will grow more stringent over time. The industrial sector would be exempted from an emissions cap -- temporarily -- and then it will be phased in. And motor fuels like gasoline would be hit with a "carbon tax"; and the proceeds will be used to "help electrify" the transportation sector. Yeah, offshore domestic oil and gas drilling would supposedly be expanded, and some federal money would be thrown at building nuclear plants, but that's all just window dressing.

So to summarize: Senate liberals are scrapping their original cap and tax plan -- which would kill jobs, raise taxes, and devastate the economy -- and replacing it with a new cap-and-tax plan, which will kill jobs, raise taxes, and devastate the economy.

Remember: They're liberals, and that's what they do.

Read the Background Material on the Morning Update...
• Heritage: The Edifice Falls
• Washington Post: Senators to Propose Abandoning Cap-and-Trade