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.