December 6, 2013
A Heritage Foundation report on the consequences of proposed EPA power-plant regulations has drawn rave reviews on Capitol Hill.
“This is great,” a senior Capitol Hill energy staffer told report coauthor David Kreutzer. ”Exactly what we needed.”
The regulations would substantially reduce the use of coal in this country, Heritage experts Nicolas Loris, Kevin Dayaratna and Kreutzer found. And by 2023, the economic effects would be dramatic:
- Employment falls by nearly 600,000 jobs.
- Manufacturing loses over 270,000 jobs.
- Coal-mining jobs drop 30 percent.
- A family of four’s annual income drops more than $1,200 per year, and its total income drops by nearly $24,400 over the entire period of analysis.
- Aggregate gross domestic product (GDP) decreases by $2.23 trillion over the entire period of the analysis.
Do you think the federal government should go ahead with what the authors call a “backdoor energy tax”?