Table 26.
Macroeconomic Impacts in Three Carbon Reduction Cases, Average Annual Values,
2008-2012
(Billion 1992 Dollars)
Analysis Case |
Loss in |
Macroeconomic Adjustment Cost |
Loss in |
Purchases of International Permits |
Total Cost |
1990-3% |
|||||
Personal Income Tax Rebate |
58 | 225 | 283 | 0 | 283 |
Social Security Tax Rebate | 58 | 70 | 128 | 0 | 128 |
1990+9% | |||||
Personal Income Tax Rebate | 32 | 137 | 169 | 23 | 192 |
Social Security Tax Rebate | 32 | 59 | 91 | 23 | 114 |
1990+24% | |||||
Personal Income Tax Rebate | 12 | 76 | 88 | 21 | 109 |
Social Security Tax Rebate | 12 | 44 | 56 | 21 | 77 |
Note:
Loss in potential GDP plus the macroeconomic adjustment costs equals the loss in actual
GDP. The actual GDP loss plus purchases of international permits equals the total cost to
the economy. Source: Simulations of the Data Resources, Inc. (DRI) Macroeconomic Model of the U.S. Economy. |