Climate Bill Will Cost Consumers Way Less than Republicans Claim

Republicans have spent the last couple months circulating false claims about how much the House climate change bill would cost consumers, with estimates skyrocketing into the ridiculous. Minnesota Congresswoman Michele Bachmann recently claimed that the cost of climate action would be between $3,128 and $4,000 per household, and called for “armed and dangerous” opposition against climate action.

The Congressional Budget Office has put an end to all of the partisan speculation, confirming that climate change legislation would cost the average household a mere $175 a year by 2020, with the poorest 20% of households actually netting $40 annually.

From The Washington Post:

The costs would result from higher prices for carbon-based fuels, offset by a complex series of tax breaks and free allowances, new technologies and behavioral changes, and impacts on corporations and their profits.

The CBO, a nonpartisan arm of Congress, said it did not take into account any indirect benefits of slowing climate change, which are substantial but difficult to quantify.

House Energy and Commerce Committee Chairman  Henry A. Waxman (D-Calif.) said the CBO report shows that his bill is “effective and affordable.”  Rep. Edward J. Markey (D-Mass.), the bill’s lead co-sponsor, said it showed that the cost would be about the same as a postage stamp a day for the average household.

But Michael Steel, a spokesman for House  Minority Leader John A. Boehner (R-Ohio), said that the CBO analysts “got an unrealistically low number for cost per family because they didn’t factor in the millions of American jobs that will move overseas if the United States imposes this tax and our foreign competitors, like China and India, do not. I don’t know what color the sky is in a world where that won’t happen, but I’m sure you can ask the unicorns.”

Boehner’s office is hardly known for responsible and accurate number crunching. It was Boehner who initially claimed the $3,128 – $4,000 figure, citing some math done using a study by an MIT professor on a two-year-old cap and trade bill. But John Reilly, who conducted the study, says Boehner inflated the cost 10-fold by ignoring the offsetting benefits.

Eh, you know how it is. You can smell the desperation of Republican lawmakers from a mile away. They’ll do anything to con Americans into siding with them.

Link [The Washington Post]
Photo credit: [Jezebel] + [Esquire]

Related Posts:

RNC Clown Michael Steele Weighs in on Global Warming
Right-Wing Pundit Freak Out Over ‘Madoff-Waxman-Markey’ Bill
GOP Politicians Parrot False Climate Bill Talking Points
Loony Rep. Michele Bachmann Takes Credit for Lower Gas Prices
Top 10 Climate Change Deniers