Cap-and-Trade Puts 2.5 Million Jobs at Risk
The recently House passed H.R. 2545, the “American Clean Energy and Security Act” also known as “cap-and-tax” or the National Energy Tax bill will eliminate 2.5 million American jobs if passed the Senate by 2035.
The bill passed 219-212, with 211 Democrats siding with Nancy Pelosi to support the broadest tax increase this year. Eight Republicans crossed party lines to support the Democrat bill.
Every American family can look forward to the following if this bill passes the Senate:
• Direct energy costs will go up $1,500 per year for the typical family of four.
• Even with a 26% reduction in use, electric bills will be $754 higher in 2035 than in the absence of Waxman-Markey, and $12,200 higher in total from 2012 to 2035.
• Even with a 15% decrease in gas consumption – prices will still go up! A family of four will still pay $596 more in 2035 and $7,500 more in total from 2012 to 2035.
• From 2012-2035, a family of four will see its direct energy costs rise by $22,800.
• On average, employment will be lower by 1,105,000 jobs per year. In some years, cap and trade will reduce employment by nearly 2.5 million jobs.
• Waxman-Markey will drive up the national debt 26 percent by 2035. This represents an additional $29,150 per person, or $116,600 for a family of four.
The Alliance for Worker Freedom recently released the following information highlighting the effects this will have on jobs in states that have the top unemployment rates in the nation.
Recently Passed Democrat Cap-and-Trade Bill Costs 2 Million American Jobs
Pro-Worker organization condemns House passage of job-killing bill
WASHINGTON, D.C. — Alliance for Worker Freedom (AWF) continues to oppose the American job elimination bill H.R. 2454, the American Clean Energy and Security Act, commonly referred to as the Waxman-Markey bill, or cap-and-trade/cap-and-tax bill, due to the negative economic repercussions, namely job and income loss.
This bill, if passed in the U.S. Senate, is projected to completely eliminate 2 million American jobs in 2012 alone. By 2035, it is expected to cost an additional 500,000 jobs. The Alliance for Worker Freedom is not alone in expressing concern over the negative effect this bill will have on our economy – The Heritage Foundation, The National Black Chamber of Commerce and the Brookings Institution all project staggering job loss.
“Why would any elected official support a bill that blatantly kills jobs?” asks AWF Executive Director Brian Johnson. “This information was presented to every single member of the House and yet 219 people voted ‘yes’. We’re not dealing with prop-ammo here; this is a real bill that will cost real jobs.”
The table below compares the negative economic effects this bill will have on the five states that already have the highest unemployment rates: