New economic impact study on California’s Global Warming Solutions Act finds that the average California family will end up paying an additional $2,500 annually by 2020.
In addition, the state is expected to lose an additional 262,000 jobs, 5.6 percent of the gross state product, and a whopping $7.4 billion through decreased annual state and local tax revenues as a result.
The California Manufacturers and Technology Association released a new report last week that suggests costs associated with AB 32 may be a lot higher than previously estimated. AB 32, otherwise known as the California Global Warming Solutions Act of 2006, was signed into law by Governor Arnold Schwarzenegger- propelling California to the forefront in the fight against global warming. Successful passage of the law effectively turned the state into one of the most stringent regulators of green house gas emissions in the nation and globally. Some would argue that the move all but eliminated California’s competitive edge in today’s market.
Then there’s the depressive effect of proliferating bureaucracies, the rules they spawn, and the compliance documentation they demand from businesses, not to mention all the other bad things that happen when politicians give themselves the authority to spend other people’s money.
“Propelling California to the forefront in the fight against global warming.” More like propelling CA to the forefront of jumping off a cliff.
California is lost. Like an alcoholic, it must reach the depths of the gutter before admitting it needs help. I was born in and lived all my life in California — but last month I moved to another state — one with lower taxes, fewer regulations, and a worse climate. It pained me to do this, but the public workers unions seem to control the legislature by funneling money to leftist candidate — who, in turn, funnel state money to the public sector unions and to other favored entities. (Consider the train to nowhere project that continues to waste money.)
California is run by Democrats who want to feel good, about laws passed not even if the law does not work or is not effective. GHG laws cost is just a way to grow government there is no way to measure if the law does anything at all.
The trouble is: is it a SOLUTION? Second problem is: What’s wrong with warming, rather than cooling anyway?
The best number I have seen for the national cost of radical environmentalism is $15,000/household/year. In just 6 years CA will double that cost, but what the hell, we have to pay the bureaucrats something to support their grand lifestyle, don’t we?
SSSShhhh……. Don’t disturb Governor Moonbeam. He’s thinking.