How Cap and Tax Will Hurt New York
In our continuing, daily, state by state, look at the financial impact of the Waxman-Markey Cap and
Trade Tax Bill, we will show you the projected losses in Gross State Product, Personal Income, and Non- Farm Jobs in New York.
Detailed information on this and other energy taxes can be found in the Americans for Tax Reform Energy Tax Analysis, May 2009.
According to a study by Karen Campbell, Ph.D. and David Kreutzer, Ph.D. at the Heritage Foundation, New York will suffer the following losses in 2012 as a result of Cap and Tax:
- A decline in Gross State Product of -$12,676,190,000.
- Total Personal Income Loss of -$15,911,350,000
- Non-Farm Job losses of -100,220.
An update to the Heritage Foundation’s study further shows an:
- Increase in Electricity Prices from 2012-2035 of $370.82 per household.
- Increase in Gas Prices from 2012-2035 of $0.66 per gallon.
Contact your Senators today and tell them to VOTE NO on the Waxman-Markey Energy Tax.
Senator Kristen E. Gillibrand: (202) 224-4451
Senator Charles E. Schumer: (202) 224-6542