Analysis of The Waxman-Markey Bill “The American Clean Energy and Security Act of 2009” (H.R. 2454) Using The National Energy Modeling System (NEMS/ACCF-NAM 2)
The American Council for Capital Formation (ACCF) and the National Association of Manufacturers (NAM) and the releases a comprehensive study on the impact of The American Clean Energy and Security Act of 2009, also known as the Waxman-Markey Bill (HR 2454). The bill aims to reduce greenhouse gas emissions and to cap the amount of carbon that is emitted by U.S. industry. The legislation does so by mandating a cap and trade program and other provisions governing fuel choices available to businesses and consumers. This bill passed the House of Representatives by a slim margin (219-212) earlier this summer. The Senate is expected to release its version of climate legislation in September.
The study, which was commissioned by the ACCF and NAM and conducted by Science Applications International Corporation (SAIC) using ACCF and NAM input assumptions, assesses the impact of the Waxman-Markey Bill on manufacturing, jobs, energy prices and our overall economy. The ACCF and Nam has released national data as well as the analysis for all 50 states if this or similar legislation is signed into law.
The national and fifty state-by-state economic impacts are detailed below:
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