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A New Study Examines the Negative Economic Impact of an Energy Plan Being Considered by Congress
Fully produced report in MP3 format:
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(OPEN):
CONGRESS IS CONSIDERING NEW ENERGY LEGISLATION THAT INCLUDES 30-BILLION
DOLLARS IN TAX HIKES. A NEW STUDY BY ECONOMIST ANDREW
CHAMBERLAIN LOOKED AT THE IMPACT OF THESE PROPOSED TAXES ON OUR
NATION'S ECONOMY...
(CHAMBERLAIN):
"THE TAX INCREASES IN THE SENATE 'GANG OF 16' ENERGY
PLAN WOULD RESULT IN A LOSS OF ROUGHLY 637-THOUSAND AMERICAN JOBS--AND
WOULD REDUCE TOTAL OUTPUT IN THE U-S ECONOMY BY APPROXIMATELY 186-BILLION
DOLLARS--IN THE FIRST 10 YEARS ALONE. THESE ARE HARSH ECONOMIC
IMPACTS--AND THEY DEMONSTRATE THE TOTAL COST TO THE U-S ECONOMY OF THE
PROPOSAL OF ROUGHLY 13.5 TIMES GREATER THAN THE BENEFITS OF INCREASED
OFFSHORE DRILLING THAT IT ALLOWS. WE FOUND THAT U-S HOUSEHOLDS
WOULD SEE LOWER WAGES AND REDUCED OVERALL EARNINGS, ACROSS THE UNITED
STATES, TOTALING ROUGHLY 35-BILLION DOLLARS--WHICH IS ABOUT 330
DOLLARS FOR EACH U-S HOUSEHOLD. RIGHT NOW, THIS IS AN ENERGY
POLICY AMERICA SIMPLY CAN'T AFFORD. CONGRESS REALLY NEEDS TO FOCUS
ON MEASURES THAT PROMOTE OUR DOMESTIC ENERGY INDUSTRY--NOT PUNISH IT
WITH HEAVY TAX INCREASES; THAT MEANS ACCESSING NEW ENERGY RESERVES,
CREATING MORE JOBS, AND ULTIMATELY STRENGTHENING OUR ECONOMY."
(CLOSE):
TO VIEW THE FULL STUDY, VISIT
W-W-W-DOT-"INSTITUTE-FOR-ENERGY-RESEARCH"-DOT-ORG.
