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CBO Estimates on the Cost of Cap & Trade Programs (HR 2454)

Immediately prior to passage of the Waxman-Markey energy bill, H.R. 2454, in the House of Representatives, (a.k.a. “American Clean Energy and Security Act” or “ACES”) the Congressional Budget Office released its estimates of economy-wide costs due to the cap-and-trade provisions of the bill.

The CBO estimates that the bill would cost the American economy $22 billion, or about $175 per household annually by the year 2020.  Of course, the distribution of costs among households would affect some income groups more than others as a result of the complex formulae used to allocate emission allowances among economic sectors, and the use of any auction proceeds to offset rising energy prices. 

To read the CBO analysis, click here.