How Cap and Tax will Hurt Vermont


Posted by Todd Hollenbeck on Monday, October 19th, 2009, 10:22 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 Vermont.  

Detailed information on this and other energy taxes can be found in the Americans for Tax Reform Energy Tax Analysis, May 2009.  
Vermont:
 
According to a study by Karen Campbell, Ph.D. and David Kreutzer, Ph.D. at the Heritage Foundation, Vermont will suffer the following losses in 2012 as a result of Cap and Tax: 
  • A decline in Gross State Product of $282,050,000
  • Total Personal Income Loss of $411,530,000
  • Non-Farm Job losses of 3,825 
An update to the Heritage Foundation’s study further shows an: 
  • Increase in Electricity Prices from 2012-2035 of $670.20 per household.
  • Increase in Gas Prices from 2012-2035 of $0.62 per gallon. 
Contact your Senators today and tell them to VOTE NO on the Waxman-Markey Energy Tax.
Senator Patrick J. Leahy: (202) 224-4242
Senator Bernard Sanders: (202) 224-5141

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