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Published on Jul 20, 2009
Mary Nichols, California Air Resources Board Chairman, is confronted by a reporter about the economic effects of implementing California's climate change law. The reporter is citing a study released two days before this press conference by professors Sanjay Varshnay and Dennis H. Tootelian of Sacramento State University. The study argues that the California Air Resources Board's implementation of the law will cost small business in the state nearly $50,000 and families about $3,800. They write, "We conclude that when Californias climate change program, AB 32, is fully implemented, the average annual loss in gross state output from small businesses alone would be $182.6 billion, approximately a 10% loss in total gross state output. This will translate into nearly 1.1 million lost jobs in California. Lost labor income is estimated to be $76.8 billion, with nearly $5.8 billion lost in indirect taxes. This decline in revenues will have a severe impact on future state budgets." The authors blogged the study here: