As previously posted the Chamber strongly supports comprehensive legislation to reduce emissions of greenhouse gases while providing for a strong American economy -- instead we got an unrealistic approach that could further harm the economy and shed American jobs. The National Black Chamber of Commerce estimates that the bill could result in annual drops in gross domestic product (GDP) of $170 billion in 2015, $350 billion in 2030, and $730 billion in 2050, and a net jobs loss of 2.3 million to 3 million—a figure that includes all the "green” jobs created. Our experts weigh in on the passage of the "American Clean Energy and Security Act of 2009" (H.R. 2454)

Bill Kovacs:

The last thing this country needs is fourteen hundred new job-killing regulations and mandates. The Chamber hopes, at some point, that Congress will find a way to balance the need for a strong U.S. economy while still addressing global climate change (our suggestions). Unfortunately, Congress has fallen short with this bill. Despite the good intentions of this bill's drafters to transition the U.S. to a 'clean, green economy,' H.R. 2454 still suffers from a large number of flaws. It fails to ensure that enough renewable or alternative energy sources, which include not only wind and solar but also nuclear and coal with carbon capture and sequestration, will be brought online to compensate for the fossil energy that will be de-selected by the bill's aggressive caps.  The Chamber's website, projectnoproject.com, shows that it's just as hard to get a permit to build a renewable energy facility as it is to build a fossil fuel-fired power plant.

Karen Harbert:

The American public deserves a robust, transparent debate on this legislation, which will raise fuel and electricity costs and have a negative impact on every family's budget. Re-writing legislation in the middle of the night and then forcing a vote on it the next day is certainly not the right way to tackle this complicated issue. There is a tremendous opportunity for America to enact sound energy policy that will promote economic growth and help transition to a low carbon future. Unfortunately, the legislation considered by the House misses the mark.  Instead, the bill passed by the House mandates a complicated regulatory scheme that has failed in Europe and will result in fewer jobs, higher prices for consumers, and will place the U.S. at a competitive disadvantage internationally.