Two years ago, the Congressional Budget Office forecast that if climate legislation were enacted, low-income households would experience a 3.3 percent drop in income from higher prices associated with a 15 percent cut in carbon dioxide emissions, with middle-income households losing 2.8 percent. (The Waxman-Markey climate bill calls for cutting greenhouse-gas emissions by 20 percent by 2020.)
More recently, the CBO estimated that "the price increases resulting from a 15 percent cut in CO2 emissions could cost the average household roughly $1,600 (in 2006 dollars)," with the greatest impact "relative to income, on lower-income households."
Wednesday, April 29, 2009
Nanci Pelosi misleads by saying a crackdown on greenhouse gases should involve "no cost to the consumer"
The facts do not support this statement and Nanci Pelosi should easily know the facts about Cap and trade. Just in case she has had another memory loss; here is what the experts at the CBO have projected. According to the Denver Post,