climate rules aimed at phasing out coal-fired power in favor of low-carbon fuels will come at a high cost, according to a newly released report.
Over the next two decades, the EPA’s rules to fight global warming will cost the economy $2.23 trillion, raise energy prices and lower families’ incomes.
Using economic models based on the federal government’s National Energy Model System, the conservative Heritage Foundation found that, by the end of 2023, EPA climate regulations will cost the U.S. nearly 600,000 jobs and reduce a family of four’s income by $1,200.
EPA rules would also raise energy prices and cost the economy $2.23 trillion from 2015 to 2038.
