EPA: Cap-and-Trade Bill Could Hurt U.S. Manufacturing, Send Factory Jobs Overseas

According to an analysis of climate legislation performed by the Environmental Protection Agency (EPA), the cap-and-trade system favored by President Barack Obama and many congressional Democrats could potentially damage the U.S. manufacturing sector and force jobs to move overseas. The policy, under certain scenarios, for example, “can cause domestic production … to shift abroad,” reads the EPA analysis, and result in greater greenhouse gas emissions in countries that do not have similar cap-and-trade rules. Further, the EPA’s Apr. 20 preliminary analysis of the bill, sponsored by Reps. Henry Waxman (D-Calif.) and Edward Markey (D-Mass.), shows that the plan would reduce U.S. manufacturing capacity 0.3 percent by 2020 and by nearly 1.5 percent by 2050...CNSNews