Study: Global warming bill could cost 2.4 million jobs, $1,250 per household

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A carbon emissions plan under consideration in Washington aimed at global warming and climate change could cost the U.S. economy between 1.8 million and 2.4 million jobs over the next two decades.

The study, released Wednesday by the National Association of Manufacturers and the American Council for Capital Formation, worries about plans of Democrats and the Obama administration plans that would put caps and fees on carbon emissions and pollution.

The business study says the climate bill would increase costs that would be passed onto consumers and that a U.S. household would lose as much as $250 annually by 2020 and $1,250 by 2030. Also, according to the study, the GDP could lose 2.4 percent of its value by 2030.

Environmental groups discounted the business study’s conclusions, saying the climate and energy plans will bolster alternative energy development and production, reduce carbon emissions and pollution and reduce U.S. reliance on fossil fuels and foreign oil.

Articles by: Mike Sunnucks

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