U.S. Chamber: Misguided Climate Change Policies Will Negatively Impact Virginia's Economy

RICHMOND, VA—The U.S. Chamber of Commerce and a group of national and state partners today held a discussion to draw attention to the economic implications future climate change policy could have on Virginia families, workers and businesses.

"Addressing greenhouse gas emissions means addressing economic policy," said William Kovacs, Chamber vice president of Environment, Technology and Regulatory Affairs. "The Senate tried to move legislation this year, and it failed partly because lawmakers are talking about carbon reductions while the American public wants to talk dollars and cents. These dialogues are designed to do just that: to get government, industry and consumers talking about costs."

Economic studies of the failed "Lieberman-Warner Climate Security Act," an economy-wide cap-and-trade bill and the Senate's main climate change vehicle in 2008, projected the loss of up to 134,548 jobs and $18.7 billion dollars in gross state product (GSP) by 2030 to Virginia, if the bill had been signed into law. Today's dialogue featured business leaders, government representatives, and policy and economic experts, and dealt with issues ranging from the costs of legislation like Lieberman-Warner to industry's voluntary efforts to reduce emissions and increase energy efficiency.

The Chamber co-hosted today's dialogue with the National Association of Manufacturers, the Alliance for Energy and Economic Growth, and the Virginia Chamber of Commerce. The event featured a keynote address by Chamber Board Member James Hixon, executive vice president of Law and Corporate Relations at Norfolk Southern Corporation. This is the eighth climate change dialogue the Chamber and its partners held in 2008. Earlier this year, events were held in New Hampshire, Montana, North Dakota, Ohio, Alaska, Tennessee, and Nevada and future dialogues will occur this fall in New Mexico, North Carolina, and West Virginia.

"Virginia's businesses and residents deserve to have their voices heard," continued Kovacs. "We are taking the debate over the costs of climate change policy out of Washington to where it truly belongs: with American consumers who will have to pay the tab."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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