The European Union Emissions Trading Scheme (ETS) could set the U.S. aviation industry back billions of dollars if certain actions aren't taken, officials at the Air Transport Association of America say. Testifying before the House Transportation and Infrastructure Subcommittee on Aviation, ATA Vice President of Environmental Affairs Nancy Young shared this concern and more.
"The EU ETS violates international law, including the sovereignty of the United States and imposes an illegal, exorbitant and counterproductive tax on U.S. citizens, diverting U.S. dollars and threatening thousands upon thousands of jobs," she told members of the House.
ATA projections estimate that the ETS could cost U.S. airlines more than $3.1 billion from 2012 to 2020, a figure that could sustain more than 39,200 aviation jobs. What's more, this number could double if the price of carbon continues to rise.
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