New Study: Climate Bill Could Cost 2 Million Jobs

Meredith Jessup | August 12, 2009 6:50 PM

If you weren't already convinced the pending cap-and-trade legislation was a disaster, a new study might just persuade you. The National Association of Manufacturers

(NAM) and the American Council for Capital Formation (ACCF) released today a study that predicts the House global warming bill could cut the nation's economic growth by 2.4 percent and drain 2 million jobs by 2030.

The Waxman-Markey Bill, "The American Clean Energy and Security Act of 2009" (H.R. 2454), is aimed at reducing global greenhouse gas emissions and to cap the amount of carbon emitted by U.S. industry. The bill passed in the House (219-212) earlier this summer and the Senate is expected to introduce its own version of the bill in September.

To see the report's predicted impact the bill could have on your state's economy and job market, click here.