The Chamber

Last summer, the House of Representatives, by a slim margin, passed H.R. 2454, the American Clean Energy and Security Act. This bill, also known as Waxman-Markey, aims to reduce greenhouse gas emissions and cap the amount of carbon that is emitted by U.S. industry by mandating fuel choices to both businesses and consumers with heavy costs attached. Employers and manufacturers across America are committed to working with Congress on sensible energy and climate change policies. But many oppose the current legislation and call it an "anti-jobs" bill. If enacted, this legislation would have a tremendous adverse economic impact on U.S. manufacturing, jobs and energy costs.

A new study that assesses the potential economic impacts of H.R. 2454 includes the following key findings:

• Employment losses up to 2.4 million jobs in 2030
• Residential electricity price increases up to 50 percent by 2030
• Gasoline price increases (per gallon) up 26 percent by 2030
• Loss of household income of up to $1,248 per year

Now is the time for your members of Congress to hear from you on this important issue.