Report: Cap-and-Trade To Punish Indiana's 5th Congressional District

 

Energy Tax Would Cost 5th CD $351 Million and 4,552 Jobs in 2012 Alone

 

WASHINGTON, D.C. - Today, the Heritage Foundation released a report on the economic devastation and job loss that would take place in each Congressional District if the Waxman-Markey Cap-and-Trade legislation was put into law. After reviewing the report, Rep. Dan Burton (R-IN-05) gave the following reaction:

"Today in the Rose Garden, President Obama said that Cap-and-Trade was a "jobs bill." Yet, this Heritage study, among others, reports rampant job loss through the year 2035. If this energy tax passes, the estimated job loss for my district is an average of 3,702 jobs per year from 2012 through 2035. If this bill passes tomorrow, it will mean financial ruin for thousands of my constituents."

Here are the statistics for Indiana's 5th Congressional District:

• 5th CD Gross State Product Loss for 2012: $361.7 Million
• 5th CD Gross State Product Loss on average from 2012-2035: $720.1 Million
• 5th CD Personal Income Loss in 2012: $458.7 Million
• 5th CD Personal Income Loss on average from 2012-2035: $265.7 Million
• 5th CD Non-farm Job Loss in 2012: 4,552
• 5th CD Non-farm Job Loss on average from 2012-2035: 3,702

SOURCE: 

Heritage Foundation