LATTA RESPONSE TO VICE PRESIDENT BIDEN VISIT

WASHINGTON- Congressman Bob Latta (R-Bowling Green) made the following
statement in response to Vice President Biden's visit to Perrysburg
earlier today.

"If the Obama administration truly wants to protect and create jobs, the
President and Congressional Democrats must stop their consideration of
the Cap and Trade legislation that will result in a massive national
energy tax on American businesses and families.

Under The Heritage Foundation's Manufacturing Vulnerability Index,
Ohio's Fifth District is the third most vulnerable district in the
nation under Cap and Tax because of Ohio's reliance on coal generated
power. President Obama stated in an interview that electric rates will
"necessarily skyrocket" under this proposal. As power suppliers will be
taxed on their emissions, those suppliers will then pass that cost
directly along to consumers. Manufacturers who consume large amounts of
power for production will be forced to make tough decisions on whether
or not to take their jobs overseas when they are forced to pay more to
simply turn on the lights. The Brookings Institution estimates that
within ten years there will be a .5 percent job loss across the United
States and the Heritage Foundation estimates that Cap and Tax will
result in the loss of 2.47 million American jobs by 2035.

Congressional Republicans want an "all of the above" energy strategy to
get this nation moving. We are promoting alternatives such as solar,
wind, ethanol, bio-mass, and hydrogen. We must also continue to develop
nuclear, clean coal, oil, natural gas, and geothermal. America can no
longer rely on foreign oil, specifically from the Middle East, as they
continue to artificially dictate prices. The United States has an
abundance of oil and natural gas that we can tap into that will
immediately lower energy prices and reduce our dependency on foreign
sources of energy."

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