CBO: Climate Bill to Cost Average Consumer $175 a Year
| By Mike Collins - Jun 23rd, 2009 at 3:31 pm EDT |
That's a little less than $15 a month. And the funniest part of the controversy is Republican concern for ordinary Americans and the looming threat of American companies moving offshore. I say let the companies move and shine a very bright light on them, I can't think of a less patriotic action. As far as displacing industries to other parts of the country, it may be necessary in order to place manufacturers in areas where resources such as wind and solar are more abundant. MC
CBO: Climate Bill to Cost Average Consumer $175 a Year
By Steven Mufson
Washington Post Staff Writer
Tuesday, June 23, 2009
Climate-change legislation would cost the average household $175 a year by 2020, according to the Congressional Budget Office, far below the figure commonly used by GOP critics of the House bill.
The CBO said yesterday that the poorest 20 percent of American households would actually receive a $40 benefit in 2020 from the legislation, which would establish a cap-and-trade system to limit greenhouse gas emissions, while the richest 20 percent of households would see a net cost of $245 a year. The costs would result from higher prices for carbon-based fuels, offset by a complex series of tax breaks and free allowances, new technologies and behavioral changes, and impacts on corporations and their profits.
More Here:
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/22/AR2009062202836.html?hpid=sec-business
CBO: Climate Bill to Cost Average Consumer $175 a Year
By Steven Mufson
Washington Post Staff Writer
Tuesday, June 23, 2009
Climate-change legislation would cost the average household $175 a year by 2020, according to the Congressional Budget Office, far below the figure commonly used by GOP critics of the House bill.
The CBO said yesterday that the poorest 20 percent of American households would actually receive a $40 benefit in 2020 from the legislation, which would establish a cap-and-trade system to limit greenhouse gas emissions, while the richest 20 percent of households would see a net cost of $245 a year. The costs would result from higher prices for carbon-based fuels, offset by a complex series of tax breaks and free allowances, new technologies and behavioral changes, and impacts on corporations and their profits.
More Here:
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/22/AR2009062202836.html?hpid=sec-business
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