Study: Cap-and-trade will cost U.S. families $1,200 a year

June 15, 2009

From the non-partisan Tax Foundation:

A new Tax Foundation calculator now shows how much a U.S. cap-and-trade system would cost individual households annually. The Tax Household Cap-and-Trade Burden Calculator is based upon a study released in March, Tax Foundation Working Paper No. 6, “Who Pays for Climate Policy? New Estimates of the Household Burden and Economic Impact of a U.S. Cap-and-Trade System.” The study shows that a cap-and-trade system designed to reduce greenhouse gas emissions by 15 percent would place an annual burden of $144.8 billion on American households. The average annual household burden would be $1,218, which would be approximately 2% of the average household income.

3 comments

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I would like to hear what the Federation of American Scientist have to say about Cap-and-Trade.

If we can have an immediate impact on climate why can’t we do something about the weather[see Mark Twain]? Maybe I’m looking at too big a picture here[geologic vs biologic].

[...] has finally gotten around to costing out Waxman-Markey, so that we don’t have to put up with pseudoscientific scaremongering any more. The Congressional Budget Office (CBO) estimates that the net annual economywide cost of [...]

[...] has finally gotten around to costing out Waxman-Markey, so that we don’t have to put up with pseudoscientific scaremongering any more. The Congressional Budget Office (CBO) estimates that the net annual economywide cost of [...]

The above link wasn’t working for me, but I found the source article (1) which had the link you were shooting for, I believe:

http://www.taxfoundation.org/publication s/show/24472.html

“Using RIMS II multipliers we estimate the broader economic impact of cap and trade. Depending on how the system is structured, cap and trade could reduce U.S. employment by 965,000 jobs, household earnings by $37.8 billion, and economic output by $136 billion per year or roughly $1,145 per household. Lawmakers weighing the costs and benefits of climate policy should be aware that cap and trade would impose a significant and regressive annual burden on U.S. households, and would not represent a “tax free” way to reduce greenhouse gas emissions.”

1). http://www.taxfoundation.org/news/show/2 4750.html

[...] has finally gotten around to costing out Waxman-Markey, so that we don’t have to put up with pseudoscientific scaremongering any more. The Congressional Budget Office (CBO) estimates that the net annual economywide cost of [...]