In a previous post, I wrote about two of Gov. Inslee’s highly ironic tax hike proposals. In this post, I’ll write about a third: His de facto tax wrapped up in his cap-and-trade proposal.
The objective of this plan is allegedly to get organizations emitting more than 25,000 tons of CO2 to rein in their carbon dioxide output. In reality, like most things progressives do that increases revenue, the objective is really the revenue bump, but never mind that. Let’s pretend that this is all about what Inslee says it is about, and nothing more. Would you be surprised to know that one of the companies set to see a huge bump in its tax bill is REC Silicon Solar, which makes Solar Polysilicon for use in solar applications?
According to data analyzed by the Washington Policy Center, REC will be forking over in excess of $4 million a year if this plan goes through.
Would you also be surprised to know that Wafertech, owned by Taiwan Semiconductor, which appears also to be in the solar business, would be hit?
According to the analysis, Wafertech will be forking over about $3.5 million a year, if the plan passes.
Others that would be getting a big tax bill include facilities that appear to be generating hydrogen, which is what a lot of environmentalists would like to see power our cars in future, because it’s greener than gas.
These aren’t the types of entity that a lot of progressives think of when they think about corporate polluters that need to be made to pay up for emitting too much CO2. In fact, they seem like the kind of businesses that progressives usually want to promote, stimulate and see more of because they are tied into the green energy economy and provide those famed green-collar jobs. So this is another respect in which Inslee’s proposed tax package is rife with irony.
Also set to be hit with a big cap-and-trade bill under the Inslee proposal are the University of Washington and Washington State University. Could that mean higher fees for students? If so, that’s another ironic, anti-progressive aspect of what Inslee is pushing. Aren’t progressives supposed to be for making college cheaper? (I will refrain from commenting on President Obama’s plan for 529 accounts here).
Again, legislators should think carefully about what is being proposed, and recognize that there’s a better way of dealing with budgetary challenges than this plan.