American manufacturers are dedicated to greater environmental sustainability. The NAM and our member companies are committed to working with Congress to establish sensible federal climate change policies that reduce greenhouse gas emissions, while maintaining a competitive playing field for U.S. companies in the global marketplace.
The NAM Board of Directors on March 7, 2008 approved a set of climate principles in which the NAM will base all discussions and positions on this issue. Click here to view the list of principles.
The Senate is expected to debate S. 3036 (formerly S. 2191), the Climate Security Act of 2008, in the coming weeks. The legislation, sponsored by Senators Joseph Lieberman (I-CT) and John Warner (R-VA), would set a limit (cap) on carbon dioxide emissions from fossil fuel use. Each covered facility would be given allowances based on past emissions. Companies that emit less carbon dioxide than permitted by their allowances could sell (trade) the excess to those that do not. 3036 sets an aggressive target requiring that emissions decline to 15 percent below 2005 levels by 2020.
The House continues to study all climate change options with a series of white papers. We expect hearings and legislation this year, but outlook appears to be headed towards a larger debate in 2009.
The NAM, in cooperation with the American Council for Capital Formation (ACCF), commissioned a study early in 2008 to assess the potential economic impacts of this bill on both the state and federal levels. The report contains state-specific data related to the bill’s effect on jobs, household incomes and Gross State Product. Links to the state report summaries are provided in the chart below.
This report also concludes that if passed into law as drafted, the Lieberman-Warner Climate Security Act of 2008 could by 2030 lead to national employment losses of up to 4 million jobs, electricity price increases of up to 129 percent, gasoline price increases of up to 145 percent and a loss of household income of up to $6,752 per year. Click here to view the complete NAM-ACCF study.
NAM News Release
NAM-ACCF Study: National Summary
NAM-ACCF Study: Complete Study
The Environmental Protection Agency (EPA) Analyzes the Climate Security Act of 2008
The Energy Information Administration Further Examines the Climate Security Act of 2008
Congressional Budget Office Cost Estimate of the Climate Security Act of 2008
CRA International, Inc. Analyzes the Climate Security Act of 2008
Massachusetts Institute of Technology Analysis of the Climate Security Act of 2008
Text of S. 3036, the Lieberman-Warner Climate Security Act
Text of Proposed Boxer-Lieberman-Warner Substitute to Lieberman-Warner Climate Security Act
Related Climate Change Links
House Energy and Commerce Subcommittee on Energy and Air Quality
Senate Environment & Public Works Committee
House Select Committee on Global Warming
Click Here for Related Articles About Climate Change
State-By-State Climate Change Map
To see the economic impact of this legislation, click on your state below.
For more information, contact the NAM’s Keith McCoy at (202) 637-3175 or kmccoy@nam.org
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