WASHINGTON (Reuters) - A Senate bill to cut U.S. greenhouse gas emissions would raise energy prices and also reduce American economic output by more than half a trillion dollars over two decades, according to a government report released on Monday.
However, the proposal would cut into the U.S. economy and raise gasoline and other energy prices paid by consumers, according to an analysis of the legislation by the Energy Information Administration.
The legislation "increases the cost of using energy, which reduces real economic output, reduces purchasing power, and lowers aggregate demand for goods and services," the EIA said.
With companies trying to meet the shrinking emissions levels, U.S. economic output would be $533 billion lower over the 2009 to 2030 time period, the agency said.
2007-08-06
10:42:15
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7 answers
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asked by
Jeremy A
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in
Other - Politics & Government