WASHINGTON, D.C. – U.S. Senator Roy Blunt (Mo.) blasted President Barack Obama’s announcement today regarding his job-destroying Environmental Protection Agency (EPA) regulations on coal-fired power plants, which could cost American businesses more than $50 billion a year.

“There’s no doubt the president’s energy policies will destroy jobs and hurt the very people who can’t afford to pay more at the pump or to heat and cool their homes. Yet once again, President Obama and his administration proved they’re more concerned about appealing to the far left of the president’s party than helping low and middle-income families who are struggling to find jobs and pay their bills,” said Blunt.

“I will fight the president and his administration every step of the way to stop this unprecedented power grab and protect Missourians, who rely on coal for 80 percent of our state’s energy,” Blunt concluded.

Missouri relies on coal for more than 80 percent of the state’s electricity needs, and Blunt has long-fought against the Obama Administration’s burdensome energy policies. Last month, Blunt introduced an amendment to protect families from skyrocketing energy costs that would result from a carbon tax. He introduced similar amendments to prevent a carbon tax in April 2014 to the unemployment insurance bill, and in March 2013 to the FY14 budget.

The U.S. Chamber of Commerce recently released a new study warning that the Obama Administration’s EPA proposal could reach $50 billion in annual costs through 2030, and diminish the nation’s coal-fired energy capabilities by a third. The study reveals that U.S. consumers would pay almost $290 billion more for electricity between 2014 – 2030, an average of $17 billion more per year. Missouri consumers would pay on average $65.4 billion more between 2014-2030, up to $11 billion more per year.

A 2012 Consumer Expenditure Survey by the Bureau of Labor Statistics (BLS) found that more than 40 million American households earning less than $30,000 per year spend an average of 20 percent or more of their family budget on utility bills. A 2013 study by NAM found the overall impact of a carbon tax on American jobs would be staggering, with a loss of worker income equivalent to between 1.3 million and 1.5 million jobs in 2013 and between 3.8 million and 21 million by 2053.