Look at the Treasury report.The report shows that the cap and-trade bill the White House is pushing in Congress — in which companies have to buy “allowances” for carbon emissions — is far more expensive for Americans than advertised.
Sure, everyone knew the firms would pass these costs along to customers. But supporters of the bill claimed that consumers would face only “nominal” increases — barely $200 a year.
Wrong. The Treasury analysis puts the actual nationwide cost of cap-and-trade at some $200 billion a year — or $1,761 per household. That figure is very close to the $1,870 amount estimated by the Heritage Foundation prior to the vote in the House.
Families will be hit with a steep climate-change tax, after all. And that will certainly include working- and middle-class folks who make less than $250,000 a year.
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