Latest State Model Shows I-732 will Cost families $448 in 2020, $695 by 2040

By the No On 732 Team

Washington State recently updated their carbon pricing model, which sent us back to our research firm to analyze the impact of Initiative 732 under the state’s new assumptions. The results still show significant impacts to Washington families, farmers, workers and employers. Under I-732, natural gas would spike by 15% in 2020 and a whopping 29% in 2040. Electricity would increase by 5% and 7% during those time frames, although some electric customers can expect to see 10% higher electricity bills in 2020 depending on the local utility. A gallon of gas will still cost $.25 more.

Combined, these costs lead to direct energy price increases of $448 in 2020 and $695 in 2040 for the average household. A full look at the I-732 energy tax impact can be found here.

Under I-732, thousands of fewer jobs would be created in manufacturing and agriculture as production leaves the state. These losses quickly lead to an increase of $11 billion in Washington State’s trade deficit.

The more people learn the facts about this flawed initiative, the more they are likely to oppose it. That’s why the editorial boards of The Columbian, The Walla Walla Union Bulletin, The Longview Daily News, The Tri-City Herald, The Yakima Herald-Republic, The Daily Sun, The Capital Press, The Spokane Journal of Business, The Everett Herald, and the Tacoma News Tribune have all come out against I-732.

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