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December 17th, 2009 10:36 am
CBO: Cap-and-Trade Will Cost Taxpayers
Posted by Print

The Congressional Budget Office (CBO) forecasts that current climate change legislation in the Senate will increase spending by $833 billion.

According to the budget office, not only would Cap-and-Trade legislation effectively tax and regulate all carbon emissions in the country, but it would also add $854 billion to federal coffers.

The cost estimate concluded, “CBO estimates that the annual cost of [cap-and-trade] would amount to tens of billions of dollars for private-sector entities and hundreds of millions of dollars for public entities… Public and private entities would also be required to report information on greenhouse gases to a federal registry.”

In short, the bill is an unmitigated disaster and must be defeated.

Click here for the CBO study.  More of CFIF on climate change here and here.

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