Question

Please select a bill currently in congress and provide an economic impact analysis.

a. Provide a summary of the Bill, including the objective of the Bill.

b. In your analysis of the Bill

i. Explain who will be helped and how.

ii. Explain who will be hurt and how.

iii. Explain where the money will come from to fund the Bill.

iv. Explain how the money will be spent.

v. Explain the Economic impact of the Bill on the U.S. Economy.

vi. Explain how the Bill will impact the 1% and the 99%.

Congress.gov is a good place to start. Please be thorough in your analysis. Try to think about how the impacts of this legislation will work its way through our economy and how it will impact people, businesses, the environment, etc. What groups of people will be impacted and how? What industries will be impacted and how? Etc. Be as thorough as possible. We need to be able to complete this type of analysis for the crazy stuff congress does, before the bills get passed so that we can either support them or get them stopped.

Please provide answers for all asked questions. Thanks :)

Answer 1

For the purpose of our study we shall take the bill titled " Job Creation through Energy Efficient Manufacturing Act" Number S.1687.

The purpose of the bill is to finance energy efficient manufacturing and create new jobs.

The objective of the bill is to get financing for small to medium sized manufacturers who manufacture goods in a way that is energy efficient. It also seeks to provide manufacturers with renewable energy technologies.

(i) The beneficiaries of the bill would range from small to medium enterprises that are involved in manufacturing of goods. The other benefciaries would be the class of employable population. This is because the cost of production would be reduced in firms that adhere to energy efficient means of production through government financing and by availing renewable energy technologies. As the cost of input reduces the firms can hire more employees. This also creates an opportunity for the small and mid sized businesses to expand. The people benefit as a result of less environmental costs, more jobs, more income. The firms involved in producing the renewable technologies get more demand for their products, which means more jobs to meet the required supply. This promotes investment in an area that benefits the environment, people and businesses.

(ii) The ones who would be affected by these measures would be the gas and coal industry as shifting to renewable technologies would reduce demand for their products. This also means less dependency on unfriendly foreign nations for fuel needs.

(iii) The money will come from the funds available with the Secretary of Energy. The estimated amount is $600,000,000. This comes at a time when the government passed the Energy and Water Appropriation bill with an amount of $6.4 billion sanctioned for environmental cleanup and around $9 billlion for the activities of the Department of Energy.

(iv) The money will be spent financing small to medium businesses that adopt energy efficient manufacturing techniques. It will also be used for providing onsite renewable technology in manufacturing units.

(v) The economic impact of the bill is creation of more jobs, reduced marginal social costs, less dependency on foreign nations for energy requirements, growth of economy due to increased operability of businesses as reliance on costly power supply reduces. Environmental benefits such as clean air, water and soil.

(vi) The 1% may not be affected much but there will certainly be a great improvement in the lives of the 99% as it impacts the working class, small businesses and the general population as well due to growth in economic benefits and opportunities.