LAO says AB 32 will adversely affect state

By CMTA Staff

Capitol Update, May 21, 2010 Share this on FacebookTweet thisEmail this to a friend

On Monday, the nonpartisan Legislative Analyst’s Office (LAO) released an evaluation of the costs and effects of AB 32's implementation. According to their report, AB 32 will have “adverse” effects on the state economy and businesses if California goes it alone. While the LAO recognizes that the green sector will most likely benefit from AB 32, it contends that the majority of California’s businesses will experience negative effects that will ultimately impact the State’s economy by increasing energy prices and driving businesses and jobs out of California. The LAO found critical deficiencies in the California Air Resources Board’s evaluation of the costs of AB 32 in the context of the “leakage” of jobs.

CMTA President Jack Stewart, Assemblyman Dan Logue (R-Chico), and others discussed the report at a press conference on Tuesday promoting the pending November ballot measure to suspend AB 32 until the economy recovers.

See press relase: www.jobs2010ca.com/lao-california-only-ab-32-strategy-bad-for-jobs-energy-prices-economy/
View report: arc.asm.ca.gov/member/3/pdf/laoanalysisofab32economicimpac.pdf

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