A number of figures have been bandied about regarding the consumer cost of climate change legislation, but Obama administration documents recently released due to a Freedom of Information Act request say families can expect to pay as much as $1,761 a year. That’s equivalent to about a 15-percent hike in personal income taxes.
Pundits say the steep cost will likely not help public acceptance of the legislation, even though it’s uncertain at this time just what the final bill will look like. The House of Representatives narrowly passed a climate bill this summer, but the Senate has yet to take up the measure.
Read more on the CBS report.
For more, read a Dairy Herd Management analysis on the subject. That analysis shows that most dairies would be hurt by cap-and-trade.
Source: CBS News