Detroit — As if Michigan hasn’t suffered enough.

An American Council for Capital Formation study done for the National Association of Manufacturers has found that the Waxman-Markey cap-and-tax bill will lop off another 91,000 jobs from the Wolverine State’s employment rolls. Michigan Capitol Confidential Daily’s Tom Gantert reports:

Cap-and-trade legislation will hit Michigan hard by 2030 if passed, costing the state as many as 91,000 jobs while raising residential energy costs as much as 60 percent and cutting a family’s disposable income by as much as $1,400 a year, according to a new study.
The study was done by the American Council for Capital Formation, a Washington-based public policy research think tank. The study’s findings:
– Michigan will have between 66,600 and 90,800 fewer jobs by 2030 if cap-and-trade legislation is passed. The job losses will be from lower industrial output due to higher energy prices, the high cost of complying with required emission cuts and greater competition from overseas manufacturers with lower energy costs.
– Michigan’s energy costs will go up by 2030. Gasoline prices will increase by 20 to 26 percent, electricity prices will increase up to 60 percent and natural gas prices will increase up to 79 percent.
– Disposable income for families will be reduced between $883 and $1,435 per year by 2030.

Read the full article here. And the ACCF study results for other states here.