On June 26, the House of Representatives narrowly passed climate
change legislation designed by Henry Waxman (D-CA) and Edward
Markey (D-MA). The 1,427-page bill would restrict greenhouse gas
emissions from industry, mainly carbon dioxide from the combustion
of coal, oil, and natural gas.
If passed by the Senate, the bill would burden families with
thousands of dollars per year in direct and indirect energy costs.
According to a new study
produced by Heritage's Center for Data Analysis (CDA), forecasts
severe consequences-including crushing energy costs, millions of
jobs lost and falling household income-if Congress enacts the
so-called Waxman-Markey bill.
Inevitably the bill will affect each state differently. Some
states are more energy-intensive than others and some rely a great
deal on manufacturing to fuel its economy. Regardless, the costs in
every state are significant. Increases in electricity and gasoline
are a dreadful site for any American. Moreover, the projected
losses in jobs and Gross State Product (GSP) illustrate how each
state's economy will be operating well under its potential directly
because of the Waxman-Markey bill. What follows are 50
state-by-state breakouts of the impact the bill would have on jobs
and the economy.