President Bush this morning said that the Warner-Lieberman bill on climate change, which is being debated in the Senate today, would impose $6 trillion in new costs on the U.S. economy, and said it is not “the way to proceed.”
“There is a much better way to address the environment than imposing these cots on the job creators, which will ultimately be borne by the consumers,” Mr. Bush said in an event at the Eisenhower Executive Office Building.
The event was focused on the president’s 2001 and 2003 tax cuts, and Mr. Bush called on Congress to make them permanent, as he does in virtually every single statement on the economy that he makes.
The cuts are set to expire at the end of 2010, and the Bush administration says taxes will go up by $280 billion a year if they are not made permanent.
Mr. Bush said he’ll work with Congress on the climate change issue, but warned them against “running up enormous costs for future generations.”
However, the Warner-Lieberman bill is not expected to pass this year, and congressional action will likely not occur until next year.