Plaintiffs in a lawsuit challenging the Environmental Protection Agency’s costly new carbon emissions regulations are taking their case to the Supreme Court.
The Atlanta-based Southeastern Legal Foundation — representing 12 members of Congress and 15 businesses and business associations — is one of the largest groups that will file documents at the end of March to have their case heard.
The Foundation — known by its acronym SLF —filed the lawsuit against the EPA for levying what critics claim is an energy tax on U.S. businesses. The EPA unilaterally issued its regulations after Congress defeated a proposal to create a “cap-and-trade” scheme to limit carbon-dioxide emissions.
Cap-and-trade, modeled on a European system, is a program in which the federal government sells permits that represent a limit on how much carbon a business may emit. Businesses are required to hold the permits, or carbon credits, equal to their emissions. They are then required to buy or sell credits when their volumes increase or decrease.
“At a staggering cost of $1 trillion, Americans can expect the new regulations to inflict huge increases in utility bills, the cost of groceries and the cost of transportation, as well as the loss of 4 million jobs over the next two decades,” SLF Executive Director Shannon Goessling tells Newsmax.
Read more at Newsmax. By David Yonkman.