Nick Loris from the Heritage Foundation explains:
The Environmental Protection Agency has issued an endangerment finding, saying that global warming and climate change pose a serious threat to public health and safety and thus almost anything that emits carbon dioxide and other greenhouse gases could be regulated under the Clean Air Act. This is the first official action taken by the federal government to regulate carbon dioxide. Arbitrary restrictions and regulations in the name of curbing global warming do nothing but promise extraordinary perils for the American economy – all for little, if any, environmental benefit.
If the EPA acts on its endangerment finding to pass regulations that impose a price on carbon, this will result in a energytax being levied on every American, passed by bureaucratic fiat without any legislative debate.
It will be the 21st Century version of taxation without representation.? An EPA imposed tax on carbon will raise the price of energy, transportation, and virtually every item that requires energy to be produced for businesses and consumers alike.
There will be a 60-day commenting period before the ruling is made final. Stay tuned for more updates or to submit your comment once the commenting period opens.