INHOFE, VOINOVICH CALL FOR FULL ECONOMIC ANALYSIS OF KERRY-BOXER CLIMATE BILL
Analysis Is Essential To Understanding Impacts on Jobs, Family Budgets
Washington, D.C.-Sen. James M. Inhofe (R-Okla.), Ranking Member of the Senate Environment and Public Works Committee, and Sen. George Voinovich (R-Ohio), a senior member of the EPW Committee, issued a joint statement today calling for comprehensive economic analysis of the Kerry-Boxer cap-and-trade bill before legislative hearings and the markup begin. Inhofe and Voinovich expect EPA to do modeling that analyzes impacts on jobs, energy prices, the economy, and family budgets, and which includes sensitivity analyses that depict a realistic picture of, among other things, technology development, actions taken by China, India, and other developing countries, and the availability offsets.
Their statement follows:
"As we've noted in previous letters and requests, getting a thorough, comprehensive economic analysis of the Kerry-Boxer bill is an essential component of a meaningful legislative process. To accomplish that, EPA needs to do a series of model runs examining key provisions in the bill, with a number of sensitivity analyses on critical issues, including, among others, the availability of offsets, potential growth in nuclear power, and the extent of emissions reductions by developing countries. Anything less than a full analysis of this kind will be unacceptable.
"Without such analysis, the ‘legislative' hearings scheduled for next week will not be deserving of the name. They will instead become empty exercises that merely scratch the surface of a whole series of complex issues. Senators and the public will be ill-served, as they will lack a complete understanding of how Kerry-Boxer affects consumers, family budgets, farmers, and America's manufacturing sector, not to mention whether the bill has a meaningful impact on global climate change.
"So as we prepare for legislative hearings, we expect EPA to provide a full analysis to the majority and the minority, one that relies on realistic assumptions and provides a balanced picture of the bill's economic impacts. In doing so, the majority will demonstrate a serious commitment to an informative and productive legislative debate on Kerry-Boxer."