$6,800 for Cap-and-Trade Not a CBO Estimate
Sunday, November 29, 2009
By Catharine Richert
PolitiFact
Critics of the Democratic cap-and-trade proposal have many complaints about the plan, but their biggest is cost. They say it will cost so much that it will be a significant burden on a typical American family.
The latest variation of this comes in a chain e-mail that contends the cap-and-trade plan will require more energy-efficient homes (a claim we rated Pants on Fire ). The e-mail says, "The Congressional Budget Office -- supposedly non-partisan -- estimates that in just a few years the average cost to every family of four will be $6,800 per year. No one is excluded."
We've spent a lot of time looking into claims about how much the cap-and-trade plan could cost families, and one thing's for certain: There's no consensus. The Environmental Protection Agency says it could cost as little as $80 per year while the conservative Heritage Foundation says it could cost as much as $1,241 annually in higher energy bills.
We've explained the pros and cons of the various estimates in those previous items, so here we're going to look into the chain e-mail's claim that the CBO estimates cap-and-trade will cost a family of four $6,800 a year.
The bill in question is called the American Clean Energy and Security Act of 2009. It is sponsored by Henry Waxman of California and Edward Markey of Massachusetts, and aims to reduce carbon emissions 17 percent by 2020 and 83 percent by 2050. Companies, particularly utilities, would have to either buy pollution credits or adopt cleaner technology.
Critics say that either way, the cost of energy will go up, and that cost will be passed on to the consumer. ...(Remainder.)
Read more...





