AB 32 Is A Breath Of Foul Air For Taxpayers, Businesses

California is in the midst of economic turmoil. Headlines shout daily about the plummeting dollar and home values, disappearing jobs, soaring fuel and food costs, and a growing massive state budget deficit. Apparently oblivious to the strain on California households, some state legislators are trying to rush implementation of a burdensome new program, which adds a massive burden on every household and business in the state.

Assembly Bill 32, under the guise of reducing greenhouse gas emissions, would cripple an already struggling economy and push energy costs out of reach for consumers and small businesses. What's worse, it would place the highest burden on those families who can least afford it – all for a program which may or may not even reduce emissions, and certainly will not affect the climate.

Independent studies of the costs of implementing AB 32 show it would cost California at least 1 percent of its state economic output – equivalent to the loss of an entire year's economic growth. Businesses, already struggling to make ends meet and provide critical jobs, will see new fees as one more reason to move across state borders or across the ocean, taking opportunities and investments with them. Less economic output, a smaller corporate tax base and fewer jobs for Californians – is this any way to solve a budget deficit?