U.S. Chamber: Misguided Climate Change Policies Would Negatively Impact Michigan's Economy

LANSING, MI—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 policies could have on the residents of Michigan.

"As Congress debates climate change legislation, it is important to stress that environmental issues must be answered with commonsense solutions that harness technologies, improve the environment, and promote economic growth," said William Kovacs, the Chamber's vice president of Environment, Technology and Regulatory Affairs.

According to an economic study by the American Council of Capital Formation of the failed Lieberman-Warner Climate Security Act, Michigan would have lost up to 121,786 jobs and $20.9 billion dollars in gross state product by 2030. The study also found the price of gasoline would have increased up to 141%, while electricity prices would have increased up to 177% if the bill had been signed into law. This week, the House Energy and Commerce Committee plans to mark-up the American Clean Energy and Security Act of 2009, a combination cap and trade bill and renewable electricity mandate that would cut CO2 emissions by 83% by 2050.

Today's dialogue featured business, economic, and government leaders discussing the possible economic impact climate change legislation could have on the state and the role of nuclear, clean coal and renewable energy sources in Michigan. The U.S. Chamber co-hosted the event with the Alliance for Energy and Economic Growth, the National Association of Manufacturers, and the Michigan Chamber of Commerce. Last year dialogues were held in New Hampshire, Montana, North Dakota, Ohio, Alaska, Tennessee, Nevada, and Virginia.

"While the Chamber supports sensible legislation to address global climate change, we need to make sure the cost of any new climate change legislation is not burdensome to Michigan families, workers, and businesses," continued Kovacs. "Only by considering all the costs and benefits of climate change options¬—meaning not just the environmental impact but the economic impact—and debating it rationally, can we build a clean energy future."

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.

# # #