Newly proposed regulations will disproportionately affect our nation’s seniors
Alexandria, VA – The 60 Plus Association released a report today that found President Obama’s newly proposed EPA regulations would disproportionately affect our nation’s seniors. The report revealed that EPA regulations will increase the price of electricity across America at rates above the general inflation rate. The report comes on the heels of recent polling conducted in eight states that determined more than 70% of seniors are concerned about costs associated with new power plant regulations. Those results can be found here [60plus.org/strong-majority-of-seniors-are-concerned-about-new-epa-regulations/].
“Under President Obama’s watch, utility rates have skyrocketed for many Americans – especially our nation’s seniors,” said Jim Martin, Chairman of the 60 Plus Association. “Many seniors are already being forced to decide between spending their fixed incomes on food, heat or medicine, and the President’s newly proposed EPA regulations will only make their dire situation even worse. Energy, like food and housing, is an indispensable necessity of life and President Obama should be working to help make the situation better instead of adding to seniors’ financial burden.”
“Not only should President Obama be concerned about the harm to our nation’s seniors, but he should be worried politically,” continued Martin. “Seniors will be voting this November and they are concerned about the costs associated with new power plant regulations.”
Key Findings From Report:
- The United States has 27 million households aged 65 or more (“65+”), representing nearly one-quarter of the nation’s 116 million households. Low and fixed income seniors are among the most vulnerable to electric rate and other energy price increases.
- Current and pending EPA regulations will increase the price of electricity in America at rates above the general rate, by as much as 20% percent in some states, of inflation and shut down numerous traditional plants.
- Just maintaining the energy budget status quo for America’s 65+ fixed income population requires stable electricity and other energy prices that do not increase above the rate of inflation.
- Future energy price increases, driven in large measure by petroleum supply and demand trends and by current and pending U.S. EPA regulations, are likely to outstrip real household incomes among the 63% of America’s 65+ households with gross annual incomes less than $50,000.