CBO Confirms Other Negative Impacts for Families and Communities
According to a May 5, 2010, CBO report, under cap-and-tax legislation such as the House-passed H.R. 2454 or the Kerry-Lieberman Senate bill, “some people would lose health insurance coverage associated with their previous employer” after they lose their job due to the national energy tax. However, CBO notes that “the recently enacted health care legislation provide new opportunities for individuals to purchase health insurance” —meaning they will effectively be forced into government-run health care. The CBO report goes on to list other consequences of cap-and-tax legislation for families and communities. The report states that, “In cases in which a shrinking industry was the primary employer in a community, the entire community could suffer.” Possible effects on an affected community include, according to CBO: The erosion of a local tax base as employment and economic activity drops.
-- Homes could decline in value as laid-off workers sell their homes and move away in search of employment opportunities elsewhere.
-- People who lose their job tend to have more health problems later in life.
-- Losing a job can cause family life to suffer. The question remains: Given the negative effects a national energy tax would have on health care, the real estate market, local economies, and family life according to the nonpartisan CBO—will Democrats still push to pass cap-and-tax this year?