During Thursday’s remarks on the House floor, Rep. Doug LaMalfa (R-CA) spoke about Gov. Gavin Newsom's (D-CA) proposal to extend the state’s cap-and-trade program.
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00:00Thank you Mr. Speaker. Well, in California, we're going at it again. Gavin Newsom and the legislature wants to extend California's cap and trade tax for another 15 years. This was a tax that was created by really creating a fake currency of selling the right to make CO2 for your manufacturing plants, power plants, etc.
00:24All this does is jack up the price for fuel, electricity, etc. and passes across to families that have to pay for these things. And what will this go for? A portion will go for at least a guaranteed $1 billion per year for the boondoggle in California known as high-speed rail.
00:42I call it high-cost fail because it's failing for many, many years and it's projected to be probably 25 or 30 years late if it ever gets completed.
00:51And it's wasted many billions so far with nothing to show for it. Now he wants to lock in this cap and trade funding through 2045 and while Californians are paying more and more to keep their lights on and keep the gas in the car.
01:04Projected by some of these actions to be as much as $8.43 per gallon, according to a USC report. Get that $8.50 a gallon for these schemes. We need to fix roads and do a lot of other things besides high-speed rail and sticking taxes on more people. I yield back.
01:22The gentleman yields.