Climate Change Legislation: Capping and Trading Louisiana Jobs

EXECUTIVE SUMMARY

If current federal climate change legislation is enacted, the Louisiana economy is likely to experience slower growth in jobs and income according to a recent study by the Pelican Institute for Public Policy and the American Council for Capital Formation. Louisiana’s gross state product, employment, industrial output, state budget revenues and household income would fall relative to the baseline forecast. Higher energy costs resulting from climate change legislation like the Waxman/Markey bill’s mandatory carbon emission reductions, energy efficiency mandates and renewable portfolio standards (RPS) passed by the U.S. House of Representatives will impede recovery from the current recession and reduce state budget receipts.

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