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Happy Small Business Saturday!

- November 25, 2015

Clinton Claims She Wants To Be The "President Of Small Business," But Her Record Of Supporting Harmful Policies And Hostile Rhetoric Would Suggest The Opposite


TOP TAKEAWAYS

  • Clinton is trying to paint herself as the "Small Business President" to make up for her lengthy record of hostile rhetoric and supporting policies that harm small business.
  • Clinton’s 2008 campaign barely mentioned small businesses, with no plan, and nearly no mention of small businesses through her website and over 19 debates and a thousand press releases.
  • Clinton continues to support ObamaCare despite the failures of the Small Business Health Options Program (SHOP) and the out of control costs brought on by the ObamaCare employer mandate.
  • As a senator, Clinton consistently voted to raise taxes on small businesses and to this day supports regulations that are detrimental to small business.
  • The ongoing Clinton-Obama energy agenda continues to ignore the concern of small businesses as energy costs skyrocket.

AS CLINTON CAMPAIGNS FOR PRESIDENT SHE IS DOING HER BEST TO MAKE UP FOR A RECORD OF HOSTILE ACTIONS TOWARDS SMALL BUSINESSES

Throughout Her Campaign, Clinton Has Claimed She Wants To Be The "Small Business President." " Democratic presidential frontrunner Hillary Clinton called for regulatory relief for community banks during a campaign stop in Cedar Falls, Iowa, on Tuesday…Vowing to be a 'small business president,' Clinton said she wants to cut regulatory red tape for community banks so that more small businesses can get loans." (Kevin Crilli, "Clinton Wants Relief For Community Banks," The Hill, 05/19/15)

However, Clinton Has Funneled Hostile Rhetoric Towards Small Businesses To Appease The Liberal Base Of Her Party

Last Year, Clinton Told A Crowd, "Don't Let Anybody Tell You That It's Corporations And Businesses That Create Jobs." CLINTON: "I voted to raise the minimum wage. And guess what? Millions of jobs were created or paid better and more families were more secure. That's what we want to see here, and that's what we want to see across the country. And don't let anybody, don't let anybody tell you, that, you know, it's corporations and businesses that create jobs. You know, that old theory, trickle-down economics. That has been tried. That has failed. It has failed rather spectacularly. You know, one of the things my husband says, when people say, 'What did you bring to Washington?' He says, 'Well, I brought arithmetic.' And part of it was, part of it was, he demonstrated why trickle-down should be consigned to the trash bin of history." (Hillary Clinton, Remarks In Boston, Massachusetts, Boston, MA, 10/24/14)

Click To Watch

This Past April, Clinton Said She Was “Surprised” To Learn That Small Business Creation Had “Stalled Out.” CLINTON: “My perspective. I want to be sure that we get small businesses started and growing in America again. We have stalled out. I was very surprised to see that when I began to dig into it. As people were telling me this as I traveled around the country the last two years, but I didn’t know what they were saying and it turns out that we are not producing as many small businesses as we use to. And a recent world study said that we are forty-sixth in the world in the difficulty to start a small business. There are lots of issues and we will get into those I hope Dave and the rest of you as well.” (Hillary Clinton, Remarks At A Roundtable, Keene, NH, 4/20/15)

Click To Watch

Last Time Clinton Ran For President She Almost Never Mentioned Small Business Issues

Clinton's 2008 Presidential Campaign Website Did Not Feature A Section On Small Business. (Hillary Clinton For President, Accessed 5/15/15)

Clinton's 2008 Presidential Campaign Did Not Release A Plan Directly Aimed At Helping Small Business. (Hillary Clinton For President, Accessed 5/15/15)

Clinton Never Mentioned "Small Business" During The Nineteen 2008 Democrat Primary Presidential Debates. (The American Presidency Project, University Of California - Santa Barbara, Accessed 5/18/15)

According To The UCSB Presidency Project, Only Released One Statement And Press Release Each With "Small Business" In The Title. (The American Presidency Project, University Of California - Santa Barbara, Accessed 5/15/15)

  • According To The UCSB Presidency Project, The Clinton Campaign Sent Out 1,259 Press Releases During The 2008 Democrat Primary. (The American Presidency Project, University Of California - Santa Barbara , Accessed 5/18/15)
  • According To The UCSB Presidency Project, The Clinton Campaign Sent Out 235 Statements During The 2008 Democrat Primary . (The American Presidency Project, University Of California - Santa Barbara , Accessed 5/18/15)

CLINTON SUPPORTS THE SMALL BUSINESS KILLING PROVISIONS FEATURED IN OBAMACARE

Small Businesses Can't Afford To Comply With ObamaCare's Employer Mandate

In January, Businesses Will Begin Getting Hit By ObamaCare's Employer Mandate. "Starting in January, the Affordable Care Act requires businesses with 50 or more full-time-equivalent employees to offer workers health insurance or face penalties that can exceed $2,000 per employee." (Melody Campbell, "Health Care Law Forces Businesses To Consider Growth's Cost," The New York Times , 11/18/15)

Small Businesses Are Forced To Become Stagnant As They "Weigh Very Carefully The Price Of Growing Bigger." "For some business owners on the edge of the cutoff, the mandate is forcing them to weigh very carefully the price of growing bigger. 'There's kind of a deer-in-headlights moment for those who say, 'I have this new potential client, but if I bring them on, I have to hire five additional people,' said Philip P. Noftsinger, the payroll unit president at CBIZ, a financial services provider for businesses. 'They're really trying to assess how much the 50th employee is going to cost.'" (Melody Campbell, "Health Care Law Forces Businesses To Consider Growth's Cost," The New York Times , 11/18/15)

  • A Texas Salon Owner Is Halting Her Company's Growth Indefinitely Due To The Employer Mandate. "Ms. Hunter, who has 45 employees, is determined not to cross that threshold. Paying for health insurance would wipe out her company's profit and the five-figure salary she pays herself from it, she said. 'The margins are not big enough within our industry to support it,' she said. 'It's not that I don't want to - I love my employees, and I want to do everything I can for them - but the numbers just don't work. I'm a single mom, and I've worked really hard at what I have, wanting to build something,' she said. 'It's very frustrating that the government has put something in place that's restricting the growth plan I've been working toward for a decade.'" (Melody Campbell, "Health Care Law Forces Businesses To Consider Growth's Cost," The New York Times , 11/18/15)

"The Average Annual Premium For Workers At Small Companies Currently Tops $6,100 For Individual Insurance And $16,600 For Family Coverage," And Often, The Employer Is Required To Cover The Majority Of The Cost. "Paying even a portion of the cost can be expensive. The average annual premium for workers at small companies currently tops $6,100 for individual insurance and $16,600 for family coverage. That premium is typically shared between the employer and employee. Businesses that fall under the health care law's mandate are required to offer their workers 'affordable' insurance, which the law defines as individual coverage that costs less than 9.5 percent of the employee's household income. (Because employers do not know how much money their workers' relatives make, their options for compliance include basing their calculation on only their own employees' wages.) For a full-time, minimum-wage employee making $14,500 a year, an employer offering an average-price individual plan would have to pay around $4,700 a year." (Melody Campbell, "Health Care Law Forces Businesses To Consider Growth's Cost," The New York Times , 11/18/15)

The Employer Mandate Is Causing Expenses To Skyrocket For Small Businesses

Businesses Can Be Fined $100 Per Day Or $36,500 Per Year For Each Employee For Not Complying With The Mandate. "As of July 1, 2015, employers who offer reimbursement for employees' individual market health insurance can be fined $100 per day, per employee or $36,500 per employee, per year. Currently, 16 percent of small employers are in violation of the new rule and are subject to the steep fines. Another 20 percent of small employers are considering or seriously considering offering the prohibited benefit." ("Introduction To The Affordable Care Act, Part 3," The National Federation Of Independent Businesses, November, 2015)

"The Cost Of Health Insurance Continues To Be The Principal Reason That Small Employers Do Not Offer The Benefit." "The cost of health insurance continues to be the principal reason that small employers do not offer the benefit. Of the 60 percent of small employers who do not offer health insurance, 52 percent say that cost is the reason they do not." ("Introduction To The Affordable Care Act, Part 3," The National Federation Of Independent Businesses, November, 2015)

  • "The Healthcare Law Has Not Provided Any Insurance Premium Cost Relief For Most Small Offering Employers." "The healthcare law has not provided any insurance premium cost relief for most small offering employers. In fact, 63 percent of offering small employers experienced an increase in their per employee premium cost between mid-2014 and mid-2015. Only 8 percent reported an average decrease in insurance premiums and 27 percent saw no change." ("Introduction To The Affordable Care Act, Part 3," The National Federation Of Independent Businesses, November, 2015)

Both Versions Of HillaryCare Featured A Similar Small Business Employer Mandate

The 1993 Version Of HillaryCare "Would Require Employers To Buy Health Insurance For All Their Workers." "Mr. Clinton would require employers to buy health insurance for all their workers. But for political reasons, he insists that these payments are premiums, not taxes -- a contention vehemently disputed by Republicans and many business lobbyists." (Robert Pear, "Clinton Offering Health Plan With Guarantee Of Coverage And Curb On Private Spending," The New York Times, 9/11/93)

  • "The Mandate Is The Bedrock" Of HillaryCare. (Robert Pear, "Clinton Offering Health Plan With Guarantee Of Coverage And Curb On Private Spending," The New York Times, 9/11/93)

A White House Aide Warned Clinton That A Prominent House Democrat Was Concerned That An Employer Mandate Would Have "A Devastating" Impact "On Small Businesses." "Interestingly, besides being the House Small Business Chairman, Congressman LaFalce is a cosponsor of Congressman McDermott's single payer bill. This meeting will be a general briefing on health care reform.. The Congressman will be particularly interested in the elements our plan share with a single payer system and the steps taken to minimize the impact on small businesses. The Congressman is concerned that health care reform, especially employer mandate approaches, could have a devastating affect on small businesses. It is primarily this concern that has lead LaFalce to support the single payer plan." ( White House Memo To Hillary Clinton , 6/28/93)

Clinton's 2007 Version Of HillaryCare Mandated That Businesses Provide Health Insurance Or Pay Into A National Fund. "Many 2008 Democratic presidential candidates, most recently Hillary Rodham Clinton of New York, are embracing the notion of the so-called 'pay or play' insurance coverage mandate, which would require employers to provide health coverage to their employees or pay a tax into a national fund that would provide the coverage for them." (Sara Lubbes, "Perils And Pluses Of 'Play Or Pay' Insurance Mandates," CQ HealthBeat News, 9/18/07)

  • The 2007 Plan Required Employers To Provide Coverage Their Employees Known As The "Pay or Play" Health Coverage Mandate. "Employers: will help finance The System: The American Way Of Politics At The Breaking Point; large employers will be expected to provide health insurance or contribute to the cost of coverage; small businesses will receive a tax credit to continue or begin to offer coverage." (Hillary Clinton For President Website, www.hillaryclinton.com, Accessed 10/15/07)

Small Businesses Steer Clear Of ObamaCare's Small Business Health Options Program (SHOP)

"The Small Business Health Insurance Exchange Created By The Affordable Care Act Is Struggling To Catch On." "After nearly two years in operation and millions of dollars spent in development, the small business health insurance exchange created by the Affordable Care Act is struggling to catch on." (Phil Galewitz, "Small Businesses Snub ObamaCare's SHOP Exchange," Kaiser Health News, 11/5/15)

"Nationally, About 85,000 People, From 11,000 Small Businesses, Have Coverage Through The Online Marketplace." "Nationally, about 85,000 people, from 11,000 small businesses, have coverage through the online marketplace known as the Small Business Health Options Program, or SHOP, according to the latest federal data released in May. Those totals do not include employers that began coverage in 2014 and have not yet renewed their coverage through HealthCare.gov for 2015." (Phil Galewitz, "Small Businesses Snub ObamaCare's SHOP Exchange," Kaiser Health News, 11/5/15)

  • "That's Less Than 1 Percent Of People With Coverage In The U.S. Small Group Insurance Market That In 2013 Had About 16.7 Million People Enrolled In Health Plans." "That's less than 1 percent of people with coverage in the U.S. small group insurance market that in 2013 had about 16.7 million people enrolled in health plans, reported Mark Farrah Associates, a market data firm." (Phil Galewitz, "Small Businesses Snub ObamaCare's SHOP Exchange," Kaiser Health News, 11/5/15)

"SHOP Has Fewer Health Plans And More Expensive Coverage Policies Than Can Be Purchased Outside The Exchange." "But several factors account for the paltry enrollment in SHOP, say insurance brokers, insurers and state officials. Brokers say SHOP has fewer health plans and more expensive coverage policies than can be purchased outside the exchange. Several states only have one insurer on their SHOP exchange, including Alabama, Tennessee, North Carolina and Nebraska, according to consulting firm Leavitt Partners." (Phil Galewitz, "Small Businesses Snub ObamaCare's SHOP Exchange," Kaiser Health News, 11/5/15)

"Sign-Ups In The State-Run Exchanges Parallel The Low Totals Achieved By The Federally Run SHOP Exchange That Operates In 34 Other States." (Phil Galewitz, "Kentucky's Exchange Success Doesn't Translate To Small Business Participation," Kaiser Health News, 11/5/15)

  • Hawaii Requested To Drop SHOP Exchange Due To Low Enrollment. "Hawaii, citing fewer than 250 employers enrolled and only 1 in 5 insurers selling plans, that state has asked the Obama administration for permission to drop its SHOP exchange for 2017." (Phil Galewitz, "Kentucky's Exchange Success Doesn't Translate To Small Business Participation," Kaiser Health News, 11/5/15)

FOR HER ENTIRE POLITICAL CAREER CLINTON HAS SUPPORTED HIGHER TAXES ON SMALL BUSINESSES AND HAS ADVOCATED FOR SMALL BUSINESS KILLING REGULATIONS

Clinton Has A History Of Voting Against Small Business Interests

Clinton Has Voted At Least 11 Times Against Tax Incentives Benefitting Small Business. (H.R. 2206, CQ Vote #181: Motion Agreed To 80-14: R 42-3; D 37-10; I 1-1, 5/24/07, Clinton Voted Nay; S. Con. Res. 21, CQ Vote #161: Motion Rejected 44-51: R 44-2; D 0-47; I 0-2, 5/9/07, Clinton Voted Nay; H.R. 2, CQ Vote #37: Motion Agreed To 49-48: R 1-46; D 46-2; I 2-0, 1/31/07, Clinton Voted Yea; H.R. 4297, CQ Vote #118: Motion Adopted 54-44: R 51-3; D 3-40; I 0-1, 5/11/06, Clinton Voted Nay; S. 256, CQ Vote #27: Rejected 38-61: R 38-17; D 0-43; I 0-1, 3/7/05, Clinton Voted Nay; H.R. 3058, CQ Vote #258: Motion Rejected 42-57: R 42-13; D 0-43; I 0-1, 10/19/05, Clinton Voted Nay; H.R. 2, CQ Vote #179: Passed 51-49: R 48-3; D 3-45; I 0-1, 5/15/03, Clinton Voted Nay; H.R. 2, CQ Vote #196: Adopted 51-50: R 48-3; D 2-46; I 0-1, With Vice President Cheney Casting A "Yea" Vote, 5/23/03, Clinton Voted Nay; H. Con. Res. 83, CQ Vote #83: Motion Rejected 49-51: R 48-2; D 1-49; I 0-0, 4/5/01, Clinton Voted Nay; H.R. 1836, CQ Vote #165: Passed 62-38: R 50-0; D 12-38, 5/23/01, Clinton Voted Nay; H.R. 1836, CQ Vote #170: Adopted 58-33: R 46-2; D 12-31, 5/26/01, Clinton Voted Nay)

  • Clinton Voted Against Extending The Increased Small Business Expensing Amount Through 2009. (H.R. 4297, CQ Vote #118: Adopted 54-44: R 51-3; D 3-40; I 0-1, 5/11/06, Clinton Voted Nay)

In 2004, Clinton Voted Against Requiring 60 Votes On Legislation That Would Raise The Top Income Tax Bracket Without Providing Exemptions For Small Businesses. "McConnell, R-Ky., motion to waive the Budget Act with respect to the Baucus, D-Mont., point of order against the McConnell amendment no. 2840 that would create a 60-vote point of order against legislation that seeks to increase taxes on the top income tax bracket without an exemption for small businesses. The budgetary point of order could be waived by a three-fifths majority vote of the total Senate." (S. Con. Res. 95, CQ Vote #55: Motion Rejected 51-45: R 50-1; D 1-43; I 0-1, 3/11/04, Clinton Voted Nay)

In 2003, Clinton Co-Sponsored A Bill With Sen. Barbara Boxer (D-CA) That Would Limit The Tax Deductions Available For Small Businesses. "A bill to amend the Internal Revenue Code of 1986 to include sports utility vehicles in the limitation on the depreciation of certain luxury automobiles." (S. 265, Introduced 1/30/03)

Clinton Has A Record Of Voting For Higher Taxes On Small Businesses

Clinton Voted Against The 2001 And 2003 Tax Cuts, Which Cut All Income Tax Rates, Including Those Encompassing Small Businesses. (H.R. 1836, CQ Vote #165: Passed 62-38: R 50-0; D 12-38, 5/23/01, Clinton Voted Nay; H.R. 1836, CQ Vote #170: Adopted 58-33: R 46-2; D 12-31, 5/26/01, Clinton Voted Nay; H.R. 2, CQ Vote #179: Passed 51-49: R 48-3; D 3-45; I 0-1, 5/15/03, Clinton Voted Nay; H.R. 2, CQ Vote #196: Adopted 51-50: R 48-3; D 2-46; I 0-1, With Vice President Cheney Casting A "Yea" Vote, 5/23/03, Clinton Voted Nay)

  • The Joint Economic Committee Found That Over 20 Million Small Businesses Would Benefit From An Income Tax Reduction. "Over 20 million small businesses that pay tax under the personal income tax system would also benefit from rate reductions. Recent research finds a strong link between marginal tax rates and small business hiring and investment behavior." ("Economic Benefits Of Personal Income Tax Rate Reductions," Joint Economic Committee Website, 4/01)

Clinton Voted Against The 2003 Tax Cut That Increased Small Business Deductions On Investments To $100,000. "Adoption of the conference report on the bill that would provide $350 billion in tax breaks over 11 years. It would provide $20 billion in state aid that consists of $10 billion for Medicaid and $10 billion to be used at states' discretion. The agreement includes a new top tax rate of 15 percent on capital gains and dividends through 2007 (5 percent for lower-income taxpayers in 2007 and no tax in 2008). Income tax cuts enacted in 2001 and scheduled to take effect in 2006 would be accelerated. The child tax credit would increase to $1,000 through 2004. The standard deduction for married couples would be double that for a single filer through 2004. Tax breaks for businesses would include increasing the deduction that small businesses could take on investments to $100,000 through 2005. (H.R. 2, CQ Vote #196: Adopted 51-50: R 48-3; D 2-46; I 0-1, With Vice President Cheney Casting A "Yea" Vote, 5/23/03, Clinton Voted Nay)

  • The 2003 Tax Cuts Increased The Small Business Investment Deduction From $25,000 To $100,000. "Under current law, as signed by the president in 2003, there is an annual maximum dollar limit. The total cost of Section 179 property has been increased from $25,000 to $100,000. This maximum dollar limit is reduced if you go over the investment limit in any year." ("Small Business/Section 179 Expensing,," National Federation Of Independent Business Website, Accessed 9/28/14)

Clinton Is A Staunch Supporter Of The Small-Business Harming Dodd-Frank Legislation

The Cornerstone Of Clinton's Wall Street Reform Plan Is To Lock-In And Expand The Regulations Brought On By Dodd-Frank. "Clinton's plan starts with defending the comprehensive Wall Street reforms passed in the wake of the crisis-the Dodd-Frank Act. Then it takes important additional steps to curb risk in the financial industry, crack down on bad actors, and ensure that everyday investors and consumers are treated fairly." (Hillary Clinton, "Hillary Clinton: Wall Street Should Work For Main Street," The Briefing, Accessed 10/8/15)

On The Campaign Trail, Clinton Has Vowed To "Defend And Seek To Expand" The Dodd-Frank Act. "Clinton added that she will defend and seek to expand the 5-year-old set of financial industry controls known as Dodd-Frank, and accused Republicans of trying to undo the protection the legislation affords." (Anne Gearan, "Hillary Clinton Bashes Wall Street, But Only A Little," The Washington Post , 7/20/15)

The "Negative Fallout From Dodd-Frank Has Been Twofold For Small Businesses," Causing Rising Costs "Due To Increased Regulatory Burdens" And A "Diminished" Availability Of Small Business Loans. "In the end, the negative fallout from Dodd-Frank has been twofold for small businesses. First, we see the rising costs, losses and forced consolidations among community banks due to increased regulatory burdens. Second, given the important role that community banks play in small business and agriculture lending, small business owners and farmers seeking loans have a diminished universe of lenders from which to choose." ("Small, Community Banks Suffering Under Dodd-Frank," Small Business & Entrepreneurship Council, 2/20/15)

A Financial Industry Report "Blamed The New Rules" Created By Dodd-Frank For "The Rising Cost And Reduced Availability Of Credit For Small Businesses." "A Harvard University study released in February found small banks lost 6% of their share of industry assets during the financial crisis and 12% since the passage of Dodd-Frank. An April report from Goldman Sachs researchers blamed the new rules for the rising cost and reduced availability of credit for small businesses, which rely mostly on small banks for financing." (Kate Davidson, "Dodd-Frank's Effect On Small Banks Is Muted,"The Wall Street Journal, 10/4/15)

A Study By The American Action Forum Found Dodd-Frank Has Led To $24 Billion In New Compliance Costs For American Businesses. "The Dodd-Frank financial reform measures passed in the wake of the collapse on Wall Street continue to take a toll on the economy, according to a new study. Five years after Dodd-Frank was passed, the business-friendly American Action Forum finds it has led to $24 billion in compliance costs and 61 million paperwork hours." (Tim Devaney, "Dodd-Frank Imposes $24B In Regulatory Costs, Study Finds," The Hill, 7/15/15)

SMALL BUSINESSES ARE FEELING THE SQUEEZE OF CLINTON BACKED ENERGY POLICIES

A Top Concern For Small Business Owners Is The Cost Of Energy

In The Last National Federation's Of Independent Business' Quadrennial Report On Small Business Problems & Priorities, Energy Costs Ranked As The "Third Most Serious Problem For Small Business Owners." "'Energy Costs, Except Electricity' ranks as the third most serious problem for small business owners, one position lower from 2008." (Holly Wade, "Small Business Problems & Priorities," National Federation Of Independent Business , August 2012)

  • "Energy Costs Disproportionally Affect Smaller Business More Than Larger Ones Due To Economies Of Scale." "Cost related problems disproportionally affect smaller businesses more than larger ones due to economies of scale. Smaller businesses lack the purchasing power of larger businesses and are less able to absorb business costs. For example, Energy Costs, except Electricity and 'Electricity (rates)' are much more of a burden for the smallest compared to the largest, small businesses." (Holly Wade, "Small Business Problems & Priorities," National Federation Of Independent Business , August 2012)

The Clinton-Obama Energy Agenda Couldn't Care Less About Rising Energy Costs

Both Clinton And Obama Recently Rejected The Keystone XL Pipeline, Ignoring The Benefits To American Businesses. "Obama's decision follows Clinton's announced opposition to the pipeline as she seeks to win the Democratic nomination. In rejecting the pipeline in 2015, the president ends suspense over a matter important to his party's frontrunner as she shores up donors, endorsements and voter support. The announcement, in effect, revives the very political cudgel Obama bemoaned, uniting his party behind energy and climate policies that are meant to contrast sharply with those of the Republican Party." (Alexis Simendinger, "Obama Rejects Keystone Pipeline, Ending 7-Year Process," Real Clear Politics , 11/6/15)

Without The Pipeline, Oil Will Continue To Be Transported By Rail, Thus Passing On The Higher Costs Onto Businesses And Consumers. "With Bakken crude selling for approximately $4 to $28 per barrel less than West Texas Intermediate (WTI) crude, the U.S. reference price for crude grade, refiners found it profitable to utilize the North Dakota oil delivered by rail even though the rail transportation cost is perhaps $5 to $10 per barrel higher than pipeline costs." (John Frittelli et al., "U.S. Rail Transportation Of Crude Oil: Background And Issues For Congress," Congressional Research Service, 5/5/14)

The Clinton-Obama Clean Power Plan (CPP) Will Eventually Cause "Total Electricity Related Costs" To "Increase By An Average Of $34 Billion Per Year." "When the consumer share of energy efficiency costs is included, total electricity-related costs in the State Unconstrained (BB1-4) increase by an average of $34 billion per year from 2017 through 2031 across all sectors. Residential and commercial consumers have much larger increases in costs than industrial consumers in this scenario primarily due to lower energy efficiency use in the industrial sector than the other two sectors." ("Potential Energy Impacts Of The EPA Proposed Clean Power Plan," NERA Economic Consulting, October 2014)

A Study Done By The North American Electric Reliability Corporation Has Shown That "Retail Electricity Prices Will Increase By $1/MWh To $18/MWh Under The CPP." "The EPA projects that retail electricity prices will increase by $1/MWh to $18/MWh under the CPP as a result of a combination of higher natural gas prices and the implementation of new carbon penalties on impacted fossil-fired generators." ("Potential Reliability Impacts Of EPA's Proposed Clean Power Plan," North American Electric Reliability Corporation , November 2014)

  • "According To EIA, Closing Coal Plants Will Drive Up Natural Gas Prices By 150 Percent Over 2012 Levels By 2040, This Cost Rise Will Cause Electricity Prices To Jump Seven Percent By 2025 And 22 Percent By 2040." ("Potential Reliability Impacts Of EPA's Proposed Clean Power Plan," North American Electric Reliability Corporation , November 2014)

Higher Rates Will Have Adverse Impacts On Small Business By Increasing Overhead Costs And Reducing U.S. Household Spending

Higher Energy Prices Will Increase Supply-Side Overhead, Forcing Small Businesses To Lower Wages Or Hire Less Employees. "There will also be supply-side reductions as the (slight) decline in real wages spurred by rising energy prices affects labor supply decisions." (Josh Bivens, "A Comprehensive Analysis Of The Employment Impacts Of The EPA's Proposed Clean Power Plan," Economic Policy Institute, 6/9/15)

As Electricity Bills Rise, U.S. Families Will Be Forced To Cut Back On Spending, Exposing Small Businesses To "Demand-Side Reductions." "Increases in energy prices will spur employment responses, including demand-side reductions in spending, as households facing higher electricity bills (at least in the short run) curtail spending on non-energy goods." (Josh Bivens, "A Comprehensive Analysis Of The Employment Impacts Of The EPA's Proposed Clean Power Plan," Economic Policy Institute, 6/9/15)

 


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