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Study Undermines "Cap & Trade"

Mike

Well-known member
Study Finds Waxman-Markey Reduces GDP by $350 Billion
PR Newswire | May 21, 2009 | National Black Chamber of Commerce


WASHINGTON, May 21 -- Today, in anticipation of Friday's House Energy and Commerce Committee vote on the Waxman-Markey legislation, the National Black Chamber of Commerce (NBCC) released a new study that determines the potential economic impacts of the federal cap-and-trade system outlined in the bill. Compiled by CRA International, the analysis determines that by 2030 the law would:

Reduce national GDP roughly $350 billion below the baseline level;

Cut net employment by 2.5 million jobs (even after accounting for new "green" jobs); and

Reduce earnings for the average U.S. worker by $390 per year.

"The inherent complexity of a government-regulated emissions trading system sets the stage for a perpetual struggle for political handouts. This makes Waxman-Markey a good way to promote corruption, but not energy efficiency."


(Excerpt) Read more at news.prnewswire.com ...
 
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