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Scott Valley Protect Our Water – POW – in Siskiyou County, California
Jul 9, 2012
PNP comment: Over-regulations and Agenda 21 will continue to destroy business and the economies in California, unless they are stopped. Thank you Rick Bosetti, candidate for Assembly Dist. 1, for sending this article to us. — Editor Liz Bowen
From: California City News.org
New Report Says AB 32 Leading the St Down a Costly Path; Billions in Lost Revenue for Local Govt
Business leaders and local government officials gathered in Sacramento June 28 to discuss the California Manufacturers and Technology Association’s long anticipated AB 32 (California Global Warming Solutions Act) cost impact report and investment survey results. In the absence of a full, detailed jobs and cost impact report on the repercussions of AB 32, the CMTA has, with report author Andrew Chang, been working on a model to assess the jobs, fiscal, investment, and industrial impacts on the state. The report on the effects of AB 32 found the following:
Cumulative costs: $135.8 billion
Annual AB 32 direct costs in 2020: $35.3 billion
Gross state product (GSP): reduced by $153.2 billion (a loss of 5.6%)
California job loss: 262,000
Household energy prices: increase by $2,500 per year for the average family
State and local tax revenue: reduced by over $7.4 billion
$6.8 billion from state revenue, $640 million from local revenue
Additionally, the investment survey found that manufacturing companies are no longer interested in calling California home. The report concluded that costs, regulations, permitting delays, a lack of incentives, high labor costs, and a high tax rate, among other things, make business difficult in the Golden State.
Of greatest concern to cities in California is the unknown impact of implementing SB 375. In a press conference, Diamond Bar Mayor Ling Ling Chang spoke of the impact AB 32 has on cities and families. Local governments stand to lose millions in revenue; at a time when municipalities are already facing increased costs, cities can’t lose what revenue they have coming in. While she agreed with the environmental aims of AB 32, she urges leaders to find more cost-effective ways to reach solutions.
See the full reports here.
Andrew Chang further explained the costs of AB 32 before the report’s release over at Fox & Hounds. See here.