Lawmaker: Climate Reform Brings Tax Jumps

" Much -- health care isn't the only reform and focus for the Senate today the Senate environment and public works committee begins hearings on climate change. My next guest is the ranking Republican on that committee. And he says that while the house -- pass a climate change bill. Things won't be as easy in the Senate is Republican senator. GM -- of Oklahoma good to see senator thank you for being with us diversity that is. Well let's talk about where we stand on climate change right now we saw from the net means to be carried boxer bill on Friday. How do you think that bill stands as we sit here today. Well I think it's the -- with."

" You know this is deja Vu all over again we did it with the Kyoto treaty we didn't know 305 -- And O eight and so it's the same thing it's a cap and trade bill it constitutes the largest tax increase in the history of America. And he would just aren't going to do it right now. Now we're going to go into three days of intense series. Starting in about fifteen minutes. And that no matter what you say about this it's still a cap and trade bill. In this vicinity has spoken several times on this they -- said Alexis sure you've heard this. That it's just like -- Waxman Markey bill that he."

" Response to our request for information. Interesting point. One of the big topics of conversation is you know is the question as to which industries get permits and why. Certain industries appear to be left out nuclear being one of them oil is not happy about that."

" Well it's really hard to say they're trying to find enough votes to get this considered on the floor. And -- authority will ask the environment public works committee you know come to the floor. But they're trying to get votes by pacified people -- well. We do you know recognize that we need nuclear at some point in in in something about that happened you'd be destroyed fossil fields at the same time. Say that you're going to increased cost of fields by allowing. Production it drilling offshore. Right now the Democrats haven't -- Korea that's keeping us from supplying our own energy in America. That's what's wrong this whole thing. So what would you like to see senator what changes could be made that you would support. Book first no election -- to come from the idea that they don't say global warming anymore but that's that's how this whole thing started. Right now we're in the ninth a year we're globe it will no longer -- here we go through these cycles we always have. So we have to assume that there is a problem that needs to be addressed -- I question that that is that that problem is that they're certainly not one that would cost about 350 billion dollars a year. To taxpayers that America. So I think that what we need to do its supplier owned energy drill offshore getting into nuclear. Enhance vehicle that clean coal technology. And keep running this machine called American yet he destroyed all of those elements to do that a."

" Let me play devil's advocate for just a second senator you know there are plenty of colleagues who worked in the energy industry. Who do support some kind of cap and trade. Because the theory here is that we are relying wait too much. On foreign oil but we've got to do something here to upgrade our own energy infrastructure in this country you not agree."

" I agree we need to -- so we've got our dependence on foreign countries in the way to do that is develop our own resources. That's the only way that we can do it becomes self sufficient. It can be it's ludicrous from people who say that we don't want to depend on foreign countries for our ability to run this machine called America. And the same time stop us from developing our own resource if they'd lift the moratorium and allow us to develop -- own resources we wouldn't be dependent upon corn."

" excellent points let's switch gears for just a moment. A lot of talk about the extension of the first time home buyer tax credit perhaps not just an extension but an expansion of it. Will you support that."

" Yeah I would support the I would support the the efforts by Mike MC. In that respect -- that's got his specialty and I'd let him take the lead I think it's it would work."

" Okay -- he wants to support the idea of extending it well the end of next year and perhaps eight phase out schedule."

" Alexis what I want to do -- see just what they are going to propose that the price tag to it and make that determination I don't know that."

" All right also opt out option appears that is the one on the table for the Senate if senator Harry Reid going to get the sixty votes he needs. Eat meat on the cabin period no I've learned that option on health care."

" Oh."

" No I don't think so ethnic unity we've heard you say a minute ago. That he wanted to Republican votes of course he wants Republican votes as he didn't have -- democratic votes they do have sixty votes. I don't think they're going to hold those votes together and I don't think anyone believes that so he'd have to go fine Republican votes. The votes just in my opinion aren't there. I think there at the same boats that they had the same problem with the cap and trade bill that would -- still. So what happens now. Well in which in which case in -- they're very. And health care but in the health care know they're going to be massaging it making changes trying to get votes. And that's that's what I -- he's doing as we speak right now as it is now. What we have seen so far is simply that is not going to he's not going to have the votes for this is my opinion of -- right."

" All right Republican senator James went off thank you very much for being here this morning had good luck on the hearings."