President Obama, You Forgot a Word in Your Cap and Trade Speech

Nicolas Loris / June 25, 2009

When pressing the House of Representatives on the Waxman-Markey cap and trade bill, President Obama remarked,

Make no mistake: This is a jobs bill.

Insert “killing” between “jobs” and “bill,” and you have yourself an accurate statement. Cap and trade is a jobs-killing bill.

According to The Heritage Foundation analysis of the Waxman-Markey cap and trade bill, over the 2012-2035 timeline, job losses average over 1.1 million. By 2035, a projected 2.5 million jobs are lost below the baseline – without a cap and trade bill.

Particularly hard-hit industries are agriculture, transportation, chemicals, wood products, machinery, paper, plastics & rubber, electrical equipment & appliances,construction and, of course, manufacturing.

For more information, check out The Heritage Foundation’s Rapid Response Page on Cap and Trade.