A new report on the effects of cap-and-trade legislation, released by Senators Kit Bond, R-Mo., and Kay Bailey Hutchison, R-Texas, says under House climate change legislation, America's farmers and ranchers would be hit with a considerable fuel tax increase. The outlook is for $550 million in higher fuel costs in 2020 and $1.65 billion in 2050. The senator's report is the first such report.
A Texas crop and livestock producer, visiting Washington, said cap-and-trade climate change legislation could hike the cost of fuel used for farming to the point that it will have a devastating economic impact on his and similar family-owned businesses. Richard Cortese, who farms near Little River, Texas says the type of gasoline and diesel fuel cost increases described in this report will make it very difficult for him to continue on the farm.
"I use diesel fuel for tillage, planting, harvesting and spraying and I use gasoline for service vehicles for checking livestock, utility vehicles and small engines," Cortese said. "Having a reliable and affordable supply of gasoline and diesel fuel is very important for my operation to continue to make a living for me and my family."