Senators Kit Bond (R-MO) and Kay Bailey Hutchison (R-TX) have just released a report, Climate Change Legislation: A $3.6 Trillion Gas Tax, which estimates how much additional pain at the pump the Waxman-Markey would inflict on U.S. consumers.
The Waxman-Markey bill (like its Senate companion, Kerry-Boxer) aims to cap U.S. carbon dioxide (CO2) emissions from 2012 to 2050. Bond and Hutchison estimate the bill’s impacts on motor fuel prices during 2015 to 2050. Of course, their study depends on assumptions regarding population growth, GDP growth,…
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