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  • Waxman-Markey by the Numbers

    Below is a breakdown of economic impacts of Waxman-Markey calculated by economists at The Heritage Foundation’s Center for Data Analysis. For full analysis of the bill, go here.

    Energy Cost Impacts

    Price increases      2035
    Gasoline                   58%
    Electricity               90%
    Natural Gas             55%
    Heating Oil              56%

    Family of 4 Cost Expenditure increases, $2009

                                           In 2035         Average             2012-2035
    Gasoline                     $565              $302                  $7,254
    Electricity                 $468              $392                  $9,410
    Natural Gas               $161               $103                 $2,471
    Heating Oil                $47                 $32                    $762
    Total                            $1,241           $829                 $19,897

    Total Tax Impact per Family of 4 (These numbers include the energy costs increases above)
    2035              Avg to 2035               Total
    $4,609         $2,979                        $$71,493

    Employment Impacts
    (Losses compared to baseline: cannot be added year to year or multiplied by number of years.)
    2035                            2012-2030 Average
    2,479,000                 1,145,000

    GDP Losses, Billions $2009
    2035                 2012-2035              Average Total
    $662                 $491                          $9.4 trillion

    Increase in National Debt by 2035, $2009
    Percent per Family of Four: 26% or $114,915

    Value of Allowance Revenue (CO2 Tax), Billions $2009
    (This is what Congress gets to spend or give away.)
    2012                2035               Average                 Total, 2012-2035
    $109               $390              $236                        $5.7trillion

    Climate Benefit
    Using mainstream analysis, climatologists estimate the temperature-moderating impact of Waxman-Markey will be:
    by 2050= 0.05 degrees C or 0.09 degrees F
    by 2100= 0.20 degrees C or 0.36 degrees F

    Posted in Energy [slideshow_deploy]

    4 Responses to Waxman-Markey by the Numbers

    1. Edward Bear, Berkele says:

      A vote for this is a vote for the United States committing economic, social, and political suicide. And all for a myth.

    2. Pingback: Waxman-Markey Is No Bargain « Justbkuz

    3. Laurence Harmon, St. says:

      Do you have these cost impacts broken out at 5-year intervals beginning in 2010?

      Energy Cost Impacts

      Price increases 2035

      Gasoline 58%

      Electricity 90%

      Natural Gas 55%

      Heating Oil 56%

    4. Pingback: Let’s be perfectly frank : Augusta Free Press

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