Cap and trade bill will clobber D.C.


How will the Kerry-Lieberman American Power Act affect your state?

The Institute for Energy Research has a new interactive map showing the percentage of carbon-based fuels used by each state. The higher the percentage, the greater the cost if Kerry-Lieberman passes.

For example, Virginia is less dependent on carbon-based fuels, which account for 81.1 % of its energy consumption, than the U.S. as a whole (85.5 %) due to its Lake Anna nuclear reactor (which, ironically, is not considered a “clean, renewable energy source” under this proposal).

Maryland’s energy consumption is 84.6 % carbon-based. However, 98.2 % of Washington D.C.’s energy comes from coal, oil or gas, making the District particularly vulnerable to a carbon tax.

IER also has a calculator that lets individuals estimate the impact the cap-and trade bill will have on their household finances. So a hypothetical family with an annual income of $63,600 will pay $1,054 more if the bill passes.

That’s if the wage earners still have homes and jobs. An IER study by Chamberlain Economics shows that the bill will add a $125.9 billion tax burden to the U.S. economy, reducing employment by about 522,000 jobs in 2015, and throwing over 5.1 million Americans out of work by 2050.

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