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Report cites carbon tax costs
If Congress passes a carbon tax this year, it will cost consumers more money by increasing the cost of natural gas, electricity and gasoline, effectively lowering workers’ wages, according to a study funded by the National Association of Manufacturers and the Louisiana Association of Business and Industry.
The study says Louisiana consumers would also see an increase in gasoline prices of more than 20 cents a gallon and see their electricity rates rise an average of 12 percent in 2013.
The study examines two carbon tax scenarios: one levied at $20 per ton increasing at 4 percent and the other designed to reduce carbon dioxide emissions by 80 percent. Both cases would have a negative impact on the economy, the report said.
“As talk has continued in Washington about a carbon tax, the results of this study are very troubling as Louisiana’s consumers would see their energy bills go up across the board,” LABI President Dan Juneau said in a news release. “Businesses throughout Louisiana would be dealt a costly blow. Louisiana is an energy-producing and consuming state, and a carbon tax will only cause us more economic harm.”