How Cap and Tax Will Hurt Michigan


Posted by Chris Prandoni on Thursday, September 10th, 2009, 2:13 PM PERMALINK


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 Michigan.

Detailed information on this and other energy taxes can be found in the Americans for Tax Reform Energy Tax Analysis, May 2009.

Michigan:

According to a study by Karen Campbell, Ph.D. and David Kreutzer, Ph.D. at the Heritage Foundation, Michigan will suffer the following losses in 2012 as a result of Cap and Tax:

  • A decline in Gross State Product of -$4,389,580,000
  • Total Personal Income Loss of -$5,980,880,000
  • Non-Farm Job losses of 52.156

An update to the Heritage Foundation’s study further shows an:

  • Increase in Electricity Prices from 2012-2035 of $556.25 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 Carl Levin: (202) 224-6221
Senator Debbie Stabenow:(202) 224-4822

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