Climate Change
New EPA, CBO Estimates Refute Claims House Climate Bill Would Impose Large Costs on Households and the Economy
New EPA and CBO analyses demonstrate that the costs of fighting greenhouse gas pollution are modest and manageable, decisively refuting opponents’ claims that reducing emissions would cost the average household several thousand dollars a year.
EPA estimates that the average cost per household of the climate bill coming to the House floor would be $80 to $111 per year. CBO estimates that if the policies the bill calls for in 2020 were already in place, the net annual economy-wide cost would average $175 per household in 2010.
CBO estimates that, on average, low-income households would not suffer any financial loss.
Basics
Policies that restrict greenhouse-gas emissions will significantly raise the price of fossil-fuel energy products. That is necessary to encourage energy efficiency and greater use of clean energy sources, but it will pose serious challenges for low- and moderate-income households. Fortunately, well-designed climate policies can reduce greenhouse gas emissions in a way that does not increase poverty or otherwise harm low- or moderate-income households and is fiscally responsible.
Featured Experts
The Center analyzes the potential effects of climate change policies on low- and moderate-income households and the federal budget. It also designs measures to ensure that the increased energy prices resulting from climate change legislation do not drive more households into poverty or make poor households poorer.
New
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New EPA and CBO Estimates Refute Claims That House Climate Bill Would Impose Large Costs on Households and the Economy
June 25, 2009
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Holding Down Increases in Utility Bills Is a Flawed Way To Protect Consumers While Fighting Global Warming
Revised June 3, 2009
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Testimony: Robert Greenstein on How Climate Change Legislation Can Fight Global Warming Effectively While Protecting Consumers,
April 23, 2009
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Fact Sheet: How a “Climate Rebate” Would Work
Revised April 22, 2009
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How to Use Existing Tax and Benefit Systems to Offset Consumers’ Higher Energy Costs Under an Emissions Cap
April 20, 2009
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By the Numbers
