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Monday, May 11, 2009

What Cap and Trade Will Cost

A Heritage Foundation analysis finds that proposed "Cap and Trade" legislation will cost the average American family $3,900 per year.

The chart to the left compares the cost of this legislation to other household expenditures.

President Obama, one would expect, would characterize the costs of his plan more optimistically ... or maybe not. As he said, “Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket.


Rep Bob Mensch said...

Matt, what's the source of the Obama quote on electricity. Could be handy for legislators concerned about rate caps.

Nathan Benefield said...

I've added the video of Obama saying that electricity prices would skyrocket.

You may also want to check out the video in which he says, "If somebody wants to build a coal-powered plant, they can; it's just that it would bankrupt them"