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AFP: New Study Confirms Economic Harm Caused by Carbon Reduction Schemes Like RGGI

May 29, 2014

AFP: New Study Confirms Economic Harm Caused by Carbon Reduction Schemes Like RGGI

MONMOUTH JUNCTION – Americans for Prosperity, the leading voice on the removal of New Jersey from the Regional Greenhouse Gas Initiative (RGGI) Cap-and-Trade scheme, is pointing to a new report as further evidence that proposals like RGGI kill jobs and cause higher energy prices.

“Yesterday’s report on the President’s back door climate change rules show it will cost Americans jobs and will cost energy consumers more money,” State Director Daryn Iwicki said, citing the Energy Institute’s findings on proposed EPA carbon regulations.

“RGGI has long been a program instituted at the state level in order to achieve what the President was unable to do at the national level—limiting carbon emissions and creating a cap-and-tax scheme benefiting speculators on Wall Street.”

“According to the study, if the rules go through, on average through 2030 we will see GDP lowered $51 billion per year, 224,000 fewer U.S. jobs per year, and Americans will pay $289 billion more per year. Disposable income for American households will see a cumulative decline of up to $586 billion through 2030.”

“These rules are the very same environmental groups in New Jersey are pushing for. Americans for Prosperity-New Jersey has long cited the negative consequences of such rules and regulations.  This would hurt our economy, kill jobs, and make people pay more for electricity.  That is what guys like Doug O’Malley and Jeff Tittel want; Americans out of work due to their environmental radicalism.”

“AFP looks forward to the DEP scrapping its rules that paved the way for New Jersey’s foolhardy entry into the RGGI Cap-and-Trade scheme. Those who oppose our withdrawal from RGGI and rolling back these rules are simply advocating for New Jerseyans losing their jobs, losing disposable income, and paying higher rates for electricity.”

Americans for Prosperity (AFP) is a nationwide organization of citizen-leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and intrusiveness of government is the best way to promote individual productivity and prosperity for all Americans. AFP educates and engages citizens to support restraining state and federal government growth and returning government to its constitutional limits. AFP is more than 2 million activists strong, with activists in all 50 states.  AFP has 34 state chapters and affiliates. More than 85,000 Americans in all 50 states have made a financial contribution to AFP or AFP Foundation. For more information, visit www.americansforprosperity.org

Americans for Prosperity does not support or oppose candidates for public office.

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