Cap and Tax Will Hurt Virginia


Posted by Todd Hollenbeck on Tuesday, October 20th, 2009, 10:19 AM 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 Virginia.  

Detailed information on this and other energy taxes can be found in the Americans for Tax Reform Energy Tax Analysis, May 2009.  
Virginia:
 
According to a study by Karen Campbell, Ph.D. and David Kreutzer, Ph.D. at the Heritage Foundation, Virginia will suffer the following losses in 2012 as a result of Cap and Tax: 
  • A decline in Gross State Product of $3,812,700,000
  • Total Personal Income Loss of $5,683,580,000
  • Non-Farm Job losses of 42,414 
An update to the Heritage Foundation’s study further shows an: 
  • Increase in Electricity Prices from 2012-2035 of $532.18 per household.
  • Increase in Gas Prices from 2012-2035 of $0.64 per gallon. 
Contact your Senators today and tell them to VOTE NO on the Waxman-Markey Energy Tax.
Senator Mark R. Warner: (202) 224-2023
Senator Jim Webb: (202) 224-4024

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