Phil Kerpen
- FOXNews.com
- July 10, 2009

Corporations will be the biggest winners under cap-and-trade. Consumers will be the biggest losers.

Give President Obama credit for at least being close to honest about wanting to tax energy. His plan to auction off allowances for the use of fossil fuels is essentially an energy tax where nobody knows the tax rate in advance.

Unfortunately, this idea went from bad to worse in the House. Instead of auctioning the permits, almost all of them will be given away based on political considerations -- that's how they got enough votes to squeak the bill through on a 219-212 vote.

Read the rest at Fox Forum.

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