Another Study Reveals Costs of Waxman-Markey

The National Association of Manufacturers and the American Council for Capital Formation on August 12, 2009 unveiled a comprehensive study of the impact of the Waxman-Markey bill, which aims to reduce GHG emissions by mandating a cap and trade program. Key findings include:

  • Cumulative loss in Gross Domestic Product (GDP) up to $3.1 trillion (2012-2030).

  • Employment losses up to 2.4 million jobs in 2030.

  • Residential electricity price increases up to 50 percent by 2030.

  • Gasoline price increases (per gallon) up 26 percent by 2030.