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State-by-state analysis of cap and trade legislation paints dour picture for economy

Post Time:Aug 13,2009Classify:Industry NewsView:105

The National Association of Manufacturers, Washington, D.C.,and theAmerican Council for Capital Formation, Washington, D.C.,today unveiled a comprehensive study on the impact of The American Clean Energy and Security Act of 2009, also known as the Waxman-Markey Bill (HR 2454), according to an Aug. 12 NAM release. The bill aims to reduce greenhouse gas emissions and to cap the amount of carbon that is emitted by U.S. industry. The legislation does so by mandating a cap and trade program and other provisions governing fuel choices available to businesses and consumers. This bill passed the House of Representatives by a slim margin (219-212) earlier this summer. The Senate is expected to release its version of climate legislation in September.

The study, which was commissioned by the NAM and ACCF and conducted by Science Applications International Corporation using NAM and ACCF input assumptions, assesses the impact of the Waxman-Markey Bill on manufacturing, jobs, energy prices and our overall economy. The NAM and ACCF released national data as well as the analysis for 15 industrial states that would be impacted greatly if this or similar legislation is signed into law. The full report, including the data covering the remaining 35 states will be released in the coming weeks.

Read a Glass Magazine article on the American Clean Energy and Security Act of 2009.

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