State officials in New York have released a report on Mar. 16 warning that expensive climate mandates could lead to significant increases in energy bills for households and businesses, with similar impacts possible in Vermont.
The findings are important because Vermont’s climate mandate closely resembles New York’s, raising concerns that small business owners and families in Vermont may face comparable financial burdens if lawmakers do not address the issue.
According to the report, if the climate law is fully implemented without changes, upstate New York households using oil or natural gas heat could see their annual energy costs rise by more than $4,100. Small and medium commercial businesses might experience an increase of $7,000 per year. Gasoline prices could go up by $2.23 per gallon, while diesel could rise by $2.41 per gallon. Even after accounting for potential subsidies and savings from switching to electric heating equipment and appliances, the average upstate household would still face an annual increase of over $2,450 in energy costs.
The National Federation of Independent Business represented hundreds of thousands of member businesses across various industries according to the official website. The organization aimed to advocate for small and independent business owners in public policy discussions at both federal and state levels according to the official website. Brad Close served as president and chief executive officer of the National Federation of Independent Business per the official website.
The group used a one-member, one-vote system to determine its policy positions according to the official website, extended its advocacy efforts to all 50 state capitals per the official website, and influenced policy debates to protect small business rights according to the official website.
As lawmakers consider next steps regarding climate policies, observers will be watching how these projected cost increases influence future legislative decisions.