Michele Bachmann
Much has been made of President Obama's recently proposed cap-and-trade, energy-tax policy that he would soon like to see implemented as a means to raise revenue for his health care reform and other big spending plans. The graph below, provided by Ways and Means Ranking Member Dave Camp (R-MI), shows the state-by-state analysis of annual per capita increases in electricity costs that would occur under a 100% auction, as President Obama has called for, to meet his target carbon emission reductions.

Annual Increase in Electricity Costs
(based on the Stern Review's recommended carbon price of $85 per ton)

State

Cost at 100% Auction

(in millions)

Increase in Electricity Costs per Capita

.Alabama

7124.6

$1,528.26

.Alaska

367.5

$535.49

.Arizona

4365.3

$671.57

.Arkansas

2240.6

$784.69

.California

4647.8

$126.45

.Colorado

3471.5

$702.81

.Connecticut

981

$280.19

.Delaware

19.9

$22.79

.District of Columbia

578.4

$977.30

.Florida

11077.6

$604.40

.Georgia

7586.5

$783.26

.Hawaii

767.6

$595.87

.Idaho

113.4

$74.42

.Illinois

8567.2

$664.04

.Indiana

10378

$1,627.46

.Iowa

3417.6

$1,138.23

.Kansas

3199.6

$1,141.84

.Kentucky

7677.1

$1,798.23

.Louisiana

4853.6

$1,100.39

.Maine

599.9

$455.69

.Maryland

2832.7

$502.82

.Massachusetts

2279.6

$350.82

.Michigan

6691.7

$668.94

.Minnesota

3304.7

$633.04

.Mississippi

2137.4

$727.35

.Missouri

6785.5

$1,147.83

.Montana

1661.7

$1,717.63

.Nebraska

1876.7

$1,052.30

.Nevada

2206.1

$848.45

.New Hampshire

694.1

$527.51

.New Jersey

1793.8

$206.60

.New Mexico

2782.9

$1,402.42

.New York

5137.8

$263.61

.North Carolina

6450.7

$699.46

.North Dakota

2790.8

$4,350.56

.Ohio

11205.6

$975.60

.Oklahoma

4373.3

$1,200.68

.Oregon

762.1

$201.08

.Pennsylvania

10770.6

$865.23

.Rhode Island

221.2

$210.51

.South Carolina

3473.7

$775.41

.South Dakota

280.5

$348.80

.Tennessee

5090

$819.00

.Texas

21986.2

$903.78

.Utah

3052.4

$1,115.47

.Vermont

1.2

$1.93

.Virginia

4055.2

$521.97

.Washington

1267.1

$193.47

.West Virginia

7207.6

$3,972.29

.Wisconsin

4587.4

$815.11

.Wyoming

3861.6

$7,249.54

Source: Committee on Ways & Means Republican Staff analysis

At a Ways and Means hearing today, Congressman Camp questioned Congressional Budget Office Director Dr. Douglas Elmendorf  about the impact of this policy on consumers in other ways as well.  As Dr. Elmendorf said, “at any point in which we are putting a price on carbon emissions, that would be passed through to the cost that consumers face on energy products but also all other products that are made using fossil fuels….I don’t know if there are any goods that use no energy in their production.  It seems to me unlikely.”

The President’s energy tax is a policy we simply can't afford.