Cassidy Comments on Chamber of Commerce EPA Report

Press Release

Congressman Bill Cassidy commented on a U.S. Chamber of Commerce report revealing that the Environmental Protection Agency's (EPA) climate change regulations would be a disaster for the economy.

The EPA's proposed regulations would lower the nation's Gross Domestic Product (GDP) by $51 billion. This could result in an average of 224,000 jobs lost every year through 2030. For the region encompassing Louisiana, GDP growth would be curbed by $8.2 billion, costing 36,000 jobs. There would be $36 billion in new expenditures, which would be passed on to customers, potentially driving up electricity prices.

Congressman Bill Cassidy (R-LA) released the following statement:

"The EPA's proposed regulations have the potential to harm Louisiana's economy, which is to say regulations will destroy jobs. In an economy like this, the first priority should be creating and preserving new jobs."

Next week, the EPA will issue its rules regarding CO2 emissions from fossil fuel-fired electricity generating plants under the Clean Air Act (CAA). These new rules are a central part of President Obama's Climate Action Plan, a major initiative to cut U.S. greenhouse gas (GHG) emissions.

In September 2013, the EPA proposed regulations that would require new coal plants to install carbon capture and storage technologies that are not yet commercially available, effectively banning the construction of even the most state-of-the-art coal-fired plants.

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