Freedom Line Blog

If the Waxman-Markey Cap-and-Trade bill (H.R. 2454) becomes law, U.S. economic growth could be slashed by 2.4 percent and the legislation would cost 2 million jobs by 2030.  This, according to a recent study conducted by the Science Applications International Corporation (SAIC) and released today.

The study, which was commissioned by the National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF), assesses the impact of the Waxman-Markey bill on manufacturing, jobs, energy prices and the overall U.S. economy.  According to a summary of the study, “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.”

The Senate is expected to take up its version of climate change legislation in September.  This latest study is yet another in a growing list of reasons why it shouldn’t.

Read the full national report here.

Access the analysis of each of the 15 states that have released so far here.