Back to the RadioSpace™ home page
NewsDirect story topics:
Consumer, Business & General Interest
Current Events & Public Affairs
Entertainment & Sports
Health & Medicine
A 'Cap and Trade' Bill in Congress Could End Up Having a Severe Adverse Impact on the U.S. Economy
Fully produced report in MP3 format:
48 kbps |
96 kbps
(85 seconds)
-- How Will You Use This Story? --
(OPEN):
AS THE "WAXMAN-MARKEY" CLIMATE BILL WINDS ITS WAY THROUGH CONGRESS, AN
INCREASING NUMBER OF ENTITIES ARE BEGINNING TO TAKE A CLOSE LOOK AT THE
ECONOMIC IMPACT OF SUCH LEGISLATION. A NEW REPORT REVEALS WHAT IT
CLAIMS ARE SOME STAGGERING NUMBERS ON THE COST OF "CAP AND TRADE".
HARRY ALFORD [AS IN "ALL"]--THE PRESIDENT AND C-E-O
OF THE NATIONAL BLACK CHAMBER OF COMMERCE--COMMENTS ON THE
STUDY, AND THE IMPACT THAT THIS LEGISLATION WOULD HAVE ON THE AMERICAN
ECONOMY...
(ALFORD):
"'WAXMAN-MARKEY'
WOULD: RAISE ENERGY COSTS FOR BUSINESSES AND CONSUMERS; INCREASE THE
COST OF OTHER GOODS AND SERVICES, THROUGHOUT THE ECONOMY; AND REDUCE
HOUSEHOLD DISPOSABLE INCOME. THE BILL WOULD RAISE GAS AND
ELECTRICITY PRICES--AND COULD ALSO REDUCE U-S G-D-P BY ROUGHLY 350-BILLION
DOLLARS, BY 20-30. GASOLINE PRICES ARE EXPECTED TO RISE 16-PERCENT
ABOVE CURRENT LEVELS, BY 20-50--WITH ELECTRICITY COSTS EXPERIENCING AN
ASTONISHING JUMP BY 45-PERCENT. AMERICANS CAN EXPECT AN INITIAL
EMPLOYMENT LOSS OF 2.5-MILLION JOBS, IN 20-30--WITH THE HEAVIEST
IMPACT ON EMPLOYMENT OCCURRING IN THE WEST, [THE] SOUTHEAST, AND [THE]
MISSISSIPPI VALLEY. THE NUMBERS ALSO REVEAL [THAT] THE IMPACT ON
WORKERS' WAGES WILL BECOME MORE SEVERE, OVER TIME: IN 20-30, THE
EARNINGS OF AN AVERAGE WORKER COULD BE ABOUT 390 DOLLARS LESS, RELATIVE
TO THE BASELINE. BY 20-50, AN AVERAGE WORKER'S WAGES COULD FALL BY
960 DOLLARS."
(CLOSE):
TO ACCESS THE STUDY--AND TO LEARN MORE ABOUT THE ECONOMIC IMPACT OF
"WAXMAN-MARKEY"--VISIT
W-W-W-DOT-"NATIONAL-B-C-C"-DOT-ORG.
