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ENERGY BILL BARBECUE

July 29, 2005

The blogs are roasting the pork-laden "Energy Bill" about to emerge from Congress.

The Tax Foundation Blog has two posts:

The Skyrocketing Tax Complexity Bill of 2005

One Member of Congress defended the tax-complicating bill saying, "This is a darned good bill and this is going to help this country... The sooner we get it implemented, the better." Yet on his very own website he simultaneously advocates for tax simplification:

Tax Dollars for Iowa Ethanol Producers

Looking forward to the feast of tax subsidies in the new energy bill, QWQC-TV Iowa glowingly congratulates House Speaker Dennis Hastert for his efforts to funnel taxpayer dollars into the pockets of rent-seeking Iowa ethanol producers:

Northwestern University economist Lynne Kiesling cuts through the smoke to get to the fire:

RENT SEEKING: IS THE ENERGY BILL REALLY A FARM BILL?

Because that's what it looks like to me. And to Jim Lucier of Prudential Securities, who took the words right out of my mouth on Tuesday's Kudlow & Company. In all of the commentary and analysis that I have read, very few people believe that this bill will do anything constructive to remove obstacles to competitive electricity markets, reduce our overall energy consumption, or provide valuable direction to energy technology research. Its most noticeable provision amounts to little more than a farm subsidy under a different name.

Prior Tax Update coverage:

TRANSLATION: PORK IS GOOD FOR YOU

PORK: BETTER THAN NUCLEAR FUSION

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