White House’s new ‘stimulus’ plans would trigger loss of $341 billion in economic activity

The American Energy Alliance (AEA) released a study yesterday from Dr. Joseph R. Mason, Louisiana State University Endowed Chair of Banking and nationally-renowned economist, which estimates that President Obama’s proposed energy tax changes would trigger grave economic consequences.

  • Initial losses of over 154,000 jobs by the end of 2011, not only in the energy sector but across the whole economy;
  • More than $341 billion in lost U.S. economic output; and
  • In excess of $68 billion in lost wages nationwide.

Read the full study here (PDF) “Regional and National Economic Impact of Repealing the Section 199 Tax Deduction and Dual-capacity Tax Credit for Oil and Gas Producers.”

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