Jane Van Ryan
Posted August 20, 2009
As Energy Citizens are preparing to rally in North Carolina, a new study shows that as many as 87,000 jobs could be wiped out in the state if the House-passed climate bill becomes law. The study also projects that the average North Carolina household would see its purchasing power fall by as much as $840 a year, and the state domestic product would fall by 1.6 percent. The impact on the state's economy could be devastating as tax revenues shrink, taking away much-needed funds for schools, police and fire departments, and hospitals.
The study by CRA International analyzes the impact of the Waxman-Markey climate bill, which was narrowly approved by the House of Representatives in June. This fall the Senate will debate its version of a climate bill.
CRA International's findings also indicate that the legislation could eliminate 2 million jobs nationwide and lead to a 1.3 percent decline in the Gross Domestic Product (GDP) in 2030. By that year, the average U.S. household would lose $1,170 in its purchasing power.
CRA International is a global consulting firm. API commissioned the CRA International study. More information about the study is available here.
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