The National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) this month published a report analyzing the potential impact the of the America's Climate Security Act of 2007 (S 2191) on national and state economies.

The purpose of the bill, written by Senators Joe Lieberman (ID.-Conn.) and John Warner (R.-Va.), is to reduce U.S. greenhouse gas emissions to 63% below 2005 levels by the year 2050 through a cap-and-trade system.

According to the report, the bill would have a profound negative economic impact on U.S. businesses, families and economies in all 50 states. A joint press release from NAM and ACCF cited a sampling'of the findings, including:

* Gross Domestic Product losses of $151 billion to $210 billion in 2020 and $631 billion to $669 billion per year in 2030;

* Employment losses of 1.2 million to 1.8 million jobs in 2020 and three million to four million jobs in 2030;

* Household income losses of $739 to $2,927 per year in 2020 and $4,022 to $6,752 per year in 2030;

* Electricity price increases of 28% to 33% by 2020 and 101% to 129% by 2030; and

* Gasoline price increases (per gallon) of 20% to 69% by 2020 and 77% to 145% by 2030.

The charts below are taken from the report and illustrate some of the devastation the Lieberman-Warner bill would have on the U.S. economy. To read the full report, including a state-by-state analysis, visit www.NAM.org or www.ACCF.org.

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