Last month, the Heritage Foundation’s Center for Data Analysis released a study of the Waxman-Markey energy tax bill showing that by 2035 it would raise electricity rates 90 percent, reduce aggregate gross domestic product (GDP) by $7.4 trillion, and destroy over 1,900,000 jobs. The Natural Resources Defense Council recently responded with a critique of our analysis, claiming we “concealed” the fact that GDP would actually grow under the Waxman-Markey bill. This is just plain false. Of course the U.S. economy would still grow under Waxman-Markey… it will just grow a …
