March 21, 2013
WASHINGTON, D.C. – U.S. Senator Roy Blunt (Mo.) introduced an amendment to the FY14 budget to protect Americans from skyrocketing energy prices and significant job losses by providing a point of order against a carbon tax or a fee on carbon emissions. U.S. Senators John Thune (S.D.), John Cornyn (Texas), and Pat Roberts (Kan.) are co-sponsors. To read the text of the amendment, please click here.
“Families and job creators in Missouri and nationwide rely on affordable, abundant energy sources. A carbon tax would burden every American with higher energy costs – especially the poorest families who simply cannot afford to pay more to fill up their gas tanks and heat their homes,” said Blunt. “This onerous tax would negatively impact U.S. manufacturing, and would specifically hurt states like Missouri that are heavily reliant on coal for affordable power.”
Additional Background Information:
According to the 2009 BLS Consumer Expenditure Survey, nearly 40 million of American households earning less than $30,000 per year spend almost 20 percent or more of their income on energy.
A study by NERA Economic Consulting for the National Association of Manufacturers (NAM) found that states like Missouri would see their utility bills increase by 19 percent in 2013.
The study also found that in energy-intensive sectors, manufacturing output could drop by as much as 15 percent. In non-energy-intensive sectors, we could see a drop in output by as much as 7.7 percent.
# # #