New Study of the Waxman-Markey Cap-and-Trade Bill
We've released my latest study today, examining the economic impact of the Waxman-Markey cap-and-trade bill (H.R. 2454) passed by the U.S. House of Representatives in June.
The study is basically a critique of recent Congressional Budget Office (CBO) distributional estimates that suggest the bill’s impact is likely to be progressive across income groups. We find the bill is much more likely to be regressive across income groups once the microeconomic response of regulated public utilities is taken into account. Under this framework, we estimate the bill will result in net benefits to the nation’s highest-earning 20 percent of earners, while imposing net costs on the lowest-earning 80 percent of U.S. households.
Check out the full study and news release here.
Posted by Andrew on Wednesday September 30, 2009 | Feedback?
