A study conducted by researchers from the University of California at Berkley, Yale University, and the University of Illinois has concluded that the proposed climate legislation being debated in the United States Senate could boost the Gross Domestic Product (GDP) of the U.S. by as much as $111 billion by 2020.The study found that the roll out of a cap-and-trade system for emissions would speed up the development and adoption of clean technologies and create between 900 million and 1.9 million jobs. The study even concluded that the average household income in the U.S. could grow by about $500 to $1,000 as a result of the bill over the same time frame.
The report;s findings are in conflict with the arguments from many industry groups as well as many Republican lawmakers, who argue that the legislation will cost the U.S. billions and also cost Americans job.
For more on the study, check out this story from Business Green.
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