New Study Shows EPA Overestimated Benefits and Underestimated Costs of the Clean Power Plan

Share on Facebook
Tweet this Story
Pin this Image

Posted by Bradley Wyatt on Friday, June 17th, 2016, 5:20 PM PERMALINK


A new study released by the Manhattan Institute last week criticized the Environmental Protection Agency’s (EPA) for their flawed analysis of the Clean Power Plan (CPP). Last August, the EPA released the final version of the CPP, which is projected to kill thousands of jobs, reduce GDP, and increase energy prices. As one would expect, the unelected bureaucrats at the EPA failed to present an accurate cost-benefit analysis of the President’s signature energy legislation.

Within the study, The Manhattan Institute made three key findings:

  • The EPA’S cost-benefit analysis of the CPP is fallacious;
  • The EPA drastically underestimated the costs of the CPP; and
  •  The CPP will have NO measurable impact on world climate. 
     

CPP lacked basic logic in that it compares estimates of world economic benefits to U.S. only costs. The EPA ignored the broader impacts on the U.S. economy including potential reductions in future U.S. GDP growth from higher energy costs. Also being ignored by the EPA was the impact of changes in future U.S. economic growth on the world economy.

Within the Study, Jonathan Lesser of the Manhattan Institute concluded:

“There are few benefits, which have been massively overestimated, and huge costs, which have been massively underestimated…from a cost benefit perspective, there’s simply no justification for the EPA’s Clean Power Plan.”

The study further showed that the EPA drastically underestimated the costs of CPP. For instance in the final version of the CPP, the agency claimed that it would only cost around $9 billion a year. However a recent study by NERA Economic Consulting project those costs will likely be over $40 billion annually, a difference of over $30 billion.

Lastly, Manhattan Institute study points out the CPP will have no measurable impact on world climate. The study cites an EPA-sponsored climate model showing that the CPP will have an estimated impact of less than 0.01 degrees Celsius by the year 2100 – literally all cost and no benefit for U.S. consumers and businesses.

It is clear that the Obama Administration has little to no concern for the drastic impact the CPP will have on the economy and American families, and is content ignoring those costs as long as the President’s ideological agenda is achieved. This most recent study pointing out flaws in the EPA’s analysis of the CPP and the related costs and benefits is only further proof of this Administration’s lack of concern for the well-being of the nation. 

 

Photo Credit: TexasGOPVote.com

More from Americans for Tax Reform

Top Comments


“Jock Tax” Dunks on Lebron in Game 7

Share on Facebook
Tweet this Story
Pin this Image

Posted by Brady Wilson on Friday, June 17th, 2016, 3:43 PM PERMALINK


The Cavaliers will have to give their best effort to complete a historic upset in Game 7, but Lebron will have to pay a little extra thanks to California’s steep “Jock Tax.” The jock tax targets traveling professionals, most notably athletes. Of the 21 states and 8 municipalities that have the tax, California, home to the Golden State Warriors, has the highest version in the country at 13.3%.   

Since the jock tax is calculated by a “duty day” system, the athlete’s income is taxed based on how many working days he spends in the state. NBA players have about 229 days in season, and Lebron will spend at least three of those days in California because of Game 7. Since Lebron brings in $23.2 million in salary, that breaks down to $101,310.04 per duty day X 3 days in California = $303,930.13.  Since the tax is 13.3%: 303,930.13 X .133 = $40,422.70.

That means Lebron will owe up to a whopping $40,422.70 just from the jock tax to the state of California just to play in Game 7.   

Whether he wins or loses, Lebron will see a large portion of his bonus disappear. A win will net each player a $118,063.13 bonus, meaning Lebron is losing 1/3 just to the jock tax. If the Cavs lose, each player on the roster will bring home a $78,231.60 bonus, where James will actually be giving away half of his bonus just to pay in Game 7.  

Throughout the NBA Finals series against Golden State, Lebron alone is set to pay California up to $161,690.80 in jock taxes. 

It is difficult to think of 6’8, 250 lbs James as vulnerable. Sure, $161,000 might not be much to James, but he has no voice in California taxes. As a resident of Ohio, James cannot vote on tax laws in California, nor can he vote for politicians who to represent him. Instead, a tax is being forced on him with no opportunity to object. 

The taxes don’t end with the jock tax either. James still has to pay the IRS at the marginal rate of 39.6 percent, plus FICA and state income taxes.  

James will be the center of attention during Game 7, but the jock tax does not single out superstars. Instead, anyone who travels with the Cavaliers organization for Sunday’s game will have to pay the California jock tax. That means that trainers and equipment managers who are not bringing in the high paying NBA contracts will still have to shell out their earnings to California.

 

Photo Credit: Keith Allison

More from Americans for Tax Reform

Top Comments


Remembering Nancy Reagan: Sign A Petiton To Rename A Park In Her Honor

Share on Facebook
Tweet this Story
Pin this Image

Posted by Rayanne Matlock on Friday, June 17th, 2016, 2:22 PM PERMALINK


Nancy Reagan’s life was one of class, service, and selflessness. While Ronald Reagan served as Governor of California, Mrs. Reagan dedicated most of her time to visiting veterans and the disabled. As First Lady, Nancy Reagan promoted the Foster Grandparents program. The program paired children with foster grandparents, creating a love and bond beneficial for both the children and the elderly. 

After the Reagans left office, Mrs. Reagan started the Nancy Reagan Foundation which later became the Nancy Reagan Afterschool Program. The purpose of the Nancy Reagan Afterschool Program is to act as a drug prevention and life skills program for children in school. Additionally, after Ronald Reagan was diagnosed with Alzheimer’s in 1994, Nancy and Ronald Reagan supported the Ronald & Nancy Reagan Research Institute. The institute is dedicated to research about Alzheimer’s and finding a cure for the disease.

Congressman Jody Hice (R-Ga.) introduced H.R. 5457, legislation to designate Gravelly Point Park as Nancy Reagan Memorial Park. Located near the Ronald Reagan Washington National Airport, Gravelly Point Park is a popular destination for enjoying the backdrop of Washington D.C. while watching planes land on the runway. The renaming of the park next to the airport named after her husband would be an appropriate tribute to Mrs. Reagan.

Please sign the petition to rename Gravelly Point Park to Nancy Reagan Memorial Park to honor First Lady Nancy Reagan.   

Photo Credit: 
www.flickr.com

Top Comments


Highlights from This Week in Washington

Share on Facebook
Tweet this Story
Pin this Image

Posted by Bradley Wyatt on Friday, June 17th, 2016, 11:00 AM PERMALINK


1. Nancy Reagan Memorial Park: Congressman Jody Hice (R-Ga.) introduced H.R. 5457, legislation to designate Gravelly Point Park as Nancy Reagan Memorial Park. Located near the Ronald Reagan Washington National Airport, Gravelly Point Park is a popular destination for enjoying the backdrop of Washington D.C. while watching planes land on the runway. The renaming of the park next to the airport named after her husband would be an appropriate tribute to Mrs. Reagan.

2. Soda Tax: The Hillary Clinton-endorsed soda tax was imposed by the Philadelphia City Council today on a 13- 4 vote. Philadelphians will now face a soda tax of 1.5 cents per ounce. The tax will increase the price of a 12-pack of soda pop by $2.16, directly affecting low and middle-income families. Clinton said she was “very supportive” of the tax.

“No one looks at Philadelphia as a bellwether,” said Grover Norquist, president of Americans for Tax Reform, which came out strongly against the Philly soda tax earlier this month. “It’s a declining city. It’s a labor union-controlled city where the unions raise taxes on anyone they goddamn want to.”

3. Manhattan Institute Clean Power Plan Study: A new study release by the Manhattan Institute last week criticized the Environmental Protection Agency (EPA) on their Clean Power Plan act. Last August, the EPA released the final version of the proposed Clean Power Plan (CPP), which would attempt to reduce Carbon Dioxide Emissions. As usual, the unelected bureaucrats at the EPA failed to present an accurate cost-benefit analysis.

4. Net Neutrality Ruling: The DC Circuit Court’s 2-1 decision in favor of the FCC’s Internet regulations represents a significant blow to the integrity of the Internet. The decision fails to address any meaningful issue and will serve to stifle innovation and investment in the future.

Grover Norquist, President of Americans for Tax Reform said:

“Treating the internet as a 19th century utility means putting it under political control, driven by backward looking bureaucrats. Such treatment will kill innovation, delay the future and abort thousands of new entrepreneurial efforts. This court decision must not stand.”

5. Jock Tax: There is more on the line in Game 6 than just the Larry O’Brien Championship Trophy. If Golden State doesn’t close out the NBA Finals in Cleveland, everyone in the Cavaliers’ organization will have to pay California’s “Jock Tax” for Game 7.

Photo Credit: Brook Ward 

More from Americans for Tax Reform

Top Comments


Jonathan Johnson Challenging Tax-Hiking Governor Gary Herbert in Utah

Share on Facebook
Tweet this Story
Pin this Image

Posted by Miriam Roff on Friday, June 17th, 2016, 10:22 AM PERMALINK


Jonathan Johnson (R-Utah) has signed the Taxpayer Protection Pledge in his bid to defeat incumbent Governor Gary Herbert. In signing the Pledge, a written commitment to voters to “oppose and veto any and all efforts to increase taxes,” Johnson has demonstrated that he is a staunch defender of Beehive State taxpayers.

His pledge can be viewed here.

Johnson is the only Republican candidate running against incumbent Gov. Herbert. Utah’s primary election will be held on Tuesday, June 28.

As governor, Herbert has supported and signed tax hikes into law. Just last year, Herbert signed a $75 million gas tax increase and a $76 million property tax hike. Herbert has also pushed to impose the tobacco tax on vapor products, a healthier alternative to smoking cigarettes.

Under Gov. Herbert’s tenure, taxpayers have been hit with $625 million in tax increases.

“By signing the pledge, Johnson demonstrates that he will protect taxpayers from higher taxes, something that Gov. Herbert has failed to do,” said Grover Norquist, president of Americans for Tax Reform. “While Gov. Herbert has been nothing but a rubber stamp for tax increases, Johnson understands that government should be reformed in a way that it spends and takes less taxpayer dollars, and will oppose tax increases that prolong failures of the past.”

Johnson is the former CEO and current board chairman of Overstock.com, a Utah-based online retailer.

Previously, he served as a clerk in the Utah Supreme Court, practiced corporate law at two international law firms, and was chief financial officer and general counsel at a publicly traded software company. A graduate of Brigham Young University law school, he also worked as an adjunct law professor.

Johnson serves on the governing boards of the Utah Technology Council, University of Utah Hospital Foundation, Utah Foundation, Salt Lake Chamber Clean Air Task Force, and Hale Centre Theatre.

Americans for Tax Reform offers the Pledge to all candidates for state and federal office. In the 114th Congress, 49 U.S. Senators and 218 members of the U.S. House of Representatives are pledge signers. Pledge signers include Senate Majority Leader Mitch McConnell, House Speaker Paul D. Ryan, House Majority Leader Kevin McCarthy, House Majority Whip Steve Scalise, and GOP Conference Chair Cathy McMorris Rodgers. Senate Finance Committee Chairman Orrin Hatch and House Ways and Means Committee Chairman Kevin Brady are also pledge signers.

On the state level, approximately 1,000 incumbent state legislators are Pledge signers. Eleven incumbent governors are pledge signers including Gov. Scott Walker (R-Wis.), Gov. Rick Scott (Fla.), Gov. Nikki Haley (S.C.), and Gov. Pat McCrory (N.C.).

 

More from Americans for Tax Reform

Top Comments


Hillary-Endorsed Soda Tax Passed By Philly City Council

Share on Facebook
Tweet this Story
Pin this Image

Posted by Toni-Anne Barry on Thursday, June 16th, 2016, 5:44 PM PERMALINK


The Hillary Clinton-endorsed soda tax was imposed by the Philadelphia City Council today on a 13- 4 vote. Philadelphians will now face a soda tax of 1.5 cents per ounce. The tax will increase the price of a 12-pack of soda pop by $2.16, directly affecting low and middle-income families. Clinton said she was “very supportive” of the tax.

Clinton endorsed the tax despite making a pledge to the American people that she will not raise taxes on anyone earning less than $250,000.

Bernie Sanders called out Clinton’s violation of her middle-class tax pledge. As reported by NBC News, Sanders said:

"Frankly, I am very surprised that Secretary Clinton would support this regressive tax after pledging not to raise taxes on anyone making less than $250,000. This proposal clearly violates her pledge," he said.

Sanders also said:

“The mechanism here is fairly regressive. And that is, it will be increasing taxes on low-income and working people.”

Grover Norquist, president of Americans for Tax Reform, said: “Hillary said she would cheerfully support tax hikes on low and middle-income American who drink soft drinks. What taxes on low-income Americans would she really oppose? Any?”

Further details about this and other Hillary Clinton tax hike endorsements can be found at Americans for Tax Reform’s dedicated website, www.HighTaxHillary.com

Photo Credit: 
Toms Norde / Valsts kanceleja

More from Americans for Tax Reform

Top Comments

juandos

It's interesting that in "no whites in this ciy" those cities take on that Liberia look.

Just coincidence, right?

Nick

Diversity Means Chasing Down The Last White Person

Why is 'diversity' and mass immigration the 'privilege' of ALL and ONLY white populations?

Anti-whites demand No-White-Anything-Anywhere.

It’s G eno cide.


Taxpayer Protection Pledge Signer Doug Burgum Wins ND Governor Primary

Share on Facebook
Tweet this Story
Pin this Image

Posted by Miriam Roff on Thursday, June 16th, 2016, 3:18 PM PERMALINK


Americans for Tax Reform congratulates Doug Burgum (R- N.D.) on winning the North Dakota gubernatorial primary. Doug Burgum is a Taxpayer Protection Pledge signer.

Americans for Tax Reform offers the Pledge to all candidates for state and federal office. In the 114th Congress, 49 U.S. Senators and 218 members of the U.S. House of Representatives are pledge signers. Pledge signers include Senate Majority Leader Mitch McConnell, House Speaker Paul D. Ryan, House Majority Leader Kevin McCarthy, House Majority Whip Steve Scalise, and GOP Conference Chair Cathy McMorris Rodgers. Senate Finance Committee Chairman Orrin Hatch and House Ways and Means Committee Chairman Kevin Brady are also pledge signers.

On the state level, approximately 1,000 incumbent state legislators are Pledge signers. Eleven incumbent governors are pledge signers including Gov. Scott Walker (R-Wis.), Gov. Rick Scott (Fla.), Gov. Nikki Haley (S.C.), and Gov. Pat McCrory (N.C.).

Burgum is an entrepreneur and former CEO of Great Plains Software, purchased by Microsoft in 2001. Burgum has founded many successful businesses and in 2009 was awarded the Theodore Roosevelt Rough Rider Award, North Dakota’s highest honor, by then-Governor John Hoeven.

Burgum faces State Rep. Marvin Nelson (D) in the November election. 

Photo Credit: 
Doug Burgum

More from Americans for Tax Reform

Top Comments


The Grover Norquist Show: The Real Science and Politics Behind Global Warming

Share on Facebook
Tweet this Story
Pin this Image

Posted by Alec DiFruscia on Thursday, June 16th, 2016, 12:16 PM PERMALINK


In Episode 57 of the Grover Norquist Show, Heartland Institute CEO Joe Bast joins Grover to discuss the new book Why Scientists Disagree About Global Warming. The book explains why the Left’s favorite statistic that “97% of scientists” agree that climate change is man-made is actually just a tactic to shut down debate. The book also discusses other statistics that are commonly used to “prove” global warming is man-made, and how liberal scientists manipulate these stats to further their agenda.

Listen to the full interview below:  

Photo Credit: 
https://www.flickr.com/photos/gageskidmore/

More from Americans for Tax Reform

Top Comments

Oscarphone

. . . it's for the kids.

Oscarphone

Apparently. All you need to know is that when the next teacher's union asks for more money, perks, tenure and retirement benefits unhinged from their contributions that "it's for the kids."

juandos

The kids would be better off by just giving the kids the money instead of wasting on the teachers...

...


“Jock Tax” Hangs Over NBA Finals

Share on Facebook
Tweet this Story
Pin this Image

Posted by Brady Wilson on Thursday, June 16th, 2016, 10:46 AM PERMALINK


There is more on the line in Game 6 than just the Larry O’Brien Championship Trophy. If Golden State doesn’t close out the NBA Finals in Cleveland, everyone in the Cavaliers’ organization will have to pay California’s “Jock Tax” for Game 7. While Cleveland abolished the jock tax last fall, California has the highest version of the tax at 13.3%

For two decades, states and municipalities have been levying a “duty days” tax on traveling professionals which has become known as the “jock tax” since it applies most visibly to professional athletes. The tax is calculated by the number of days that an individual spends in the state whether it be for practice, games, or meetings. 

21 states and 8 municipalities have jock taxes. Everyone who travels with a team is forced to pay. That means even benchwarmers who are paid the league minimum are forced to pay the tax. In some instances, these players are losing more money from the tax than they earn in salary. 

While some athletes struggle under the weight of the tax, it has an even larger impact on the people who travel but are not on the roster.  Positions including the trainer and equipment manager are charged the same flat tax simply for being affiliated with a traveling sports team.  Not only are the fees burdensome for staff who are often paid at the national average income, but they are also forced to file taxes in 15 to 20 different states each year. This forces them to seek out accountants since the tax can best be described as “a puzzle that needs to be assembled by a professional.”

The tax conflicts with the very reason for American independence: taxation without representation. Since workers are taxed by places where they only visit for a few nights each year, they cannot vote on the taxes or the representatives who administer them.  The politicians are using the jock tax as a way to easily grab money without upsetting the constituents who have the power to vote them out.

The jock tax has made news recently as a settlement between the National Basketball Players Association and the city of Memphis made the city pay out $2.38 million of the $7.27 million that it collected since its tax began in 2009.  This could be the beginning of the end for the jock tax.

Even while this seems to be a victory against the jock tax, the same professionals who are most hurt by the tax are left out. While the low earners do not have the funds to pay out a large portion of their salary each night, they also cannot afford legal representation to challenge the tax and ensure that they are reimbursed.

Other cities and states should look to the Memphis example and see the irrationality and injustice of levying such a devastating tax on the young men and women who are pursuing their version of the American Dream. 

SEE ALSO: Sign The Petition Urging Congress to Redesignate Gravelly Point Park as Nancy Reagan Memorial Park

Photo Credit: Erick Drost

Top Comments

Jerry Doyle

It may be a dumb tax but I don't feel much sympathy for the NBA and their political statements wanting to boycott N.C.because the state wants to keep men out of women's bathrooms.

Most of the players support Obama and the left wing agenda-- seems only fitting that they should pay for it.

codefool

Ah, MISTER Garabaldi! True even the NFL pushes left wing causes and boycotts states that won't comply.

In Obama America we may no longer be able to put a man in space, but Obama is the first president to ever put a man in a women's restroom.

jp

To boldly "go" where no man has gone before!


Economy Task Force Calls for Financial Free Market Solutions

Share on Facebook
Tweet this Story
Pin this Image

Posted by Natalie De Vincenzi on Thursday, June 16th, 2016, 10:27 AM PERMALINK


House Speaker Paul Ryan (R-Wis.) and House Republicans this week released their third policy blueprint. The proposal calls for overhauling the regulatory system and lays out a number of financial solutions to help all Americans better obtain financial independence. Over the past seven years, unelected bureaucrats have run rampant over, making unilateral decisions over products and services one better left up to consumers and investors.

Speaker Ryan blueprints many problems, and also proposes commonsense, conservative solutions to halt the Obama takeover of basic financial services. Most importantly, these solutions all ensure that decision-making power is placed back with American families and small businesses.

Obamacare for your retirement

The Department of Labor recently released the “fiduciary rule,” a regulation that will clamp down on the financial advice available to 401(k) and IRA users. The 1000+ page rule creates a “best interest” standard that is so broad and lack clarity that they are open to wide interpretation. Some economists have even warned the standard is an “open-ended obligation with seemingly no bounds.” This rule is projected to leave up to 7 million IRA holders being unable to receive investment advice, and 300,000 to 400,000 fewer IRAs being opened yearly.

To address the fiduciary rule, the blueprint calls for securing American’s retirement and investment choices, as well as censuring the DoL’s fiduciary rule and to directing the SEC to regulate this area as it is required to under federal law. These measures will put American families and small businesses back in charge of making their retirement decisions and reel in Obama’s executive overreach.

Lack of consumer choice

The Dodd-Frank Act has eliminated consumer choice and empowered regulators broad authority to control consumer behavior. Since the passage of the legislation, the number of banks offering free checking has dropped from 75 to 39 percent. Additionally, the law created the Consumer Financial Protection Bureau (CFPB), which has the authority to outlaw a product or service if the director finds it “unfair” or “abusive”.

The proposal recommends reforming the CFBP in three ways. First, turn the CFPB into a five member, bipartisan stand-alone agency. Second, create and institute an Inspector General for the CFBP. Third, bring transparency and accountability to the CFBP by creating a budget and restoring congressional oversight, so that money is not squandered by this unregulated agency. These are important reforms to restore consumer choice and not allow the Obama administration to inefficiently and unfairly act.

Credit unions and small banks are being phased out

Dodd-Frank has also squeezed credit unions and brought on roughly $2.8 billion in regulatory compliance costs. Inevitably, these costs are passed onto the consumer through higher prices or diminished credit availability. Today, credit unions are forced to dedicate one in every four employees to comply with mind-numbing regulations.

To stop banks and credit unions from being squeezed out, the GOP blueprint proposes providing immediate relief to the community banks and credit unions. It suggests enabling regulators to tailor regulations to align with the size and business model of a bank or credit union and raising the consolidated assets threshold to allow more small banks to access capital for new loan products and making loans. Both of these solutions will help small businesses regain control from the dictatorial regulations and executive overreach. 

Photo Credit: 
http://401kcalculator.org

More from Americans for Tax Reform

Top Comments

It's not important

The bankers destroyed the economy in 2008, then paid themselves huge bonuses for their trouble. Let's trust them again.

It's not important

It's been working well for 30 years. Let's keep doing it.


hidden
×