NERA/NAM study shows heavy economic impacts of carbon tax
The National Association of Manufacturers have published a new study with NERA Economic Consulting that predicts heavy impacts on an already ailing economy should a federal carbon tax be passed.
Today, the National Association of Manufacturers (NAM) released a study conducted by NERA Economic Consulting that shows a carbon tax would have a devastating impact on manufacturing and jobs. The report, titled Economic Outcomes of a U.S. Carbon Tax, found that levying such a tax would impact millions of jobs and result in higher prices for natural gas, electricity, gasoline and other energy commodities. Manufacturing output in energy-intensive sectors could drop by as much as 15.0 percent and in non-energy-intensive sectors by as much as 7.7 percent.
It’s truly difficult to imagine people seriously considering a policy that would so seriously damage our economy. It’s even more difficult to imagine elected officials considering a carbon tax when we haven’t even fully recovered from the last economic downturn brought on (largely) by other government policies.