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Energy Literacy Advocates (ELA) is a non-partisan, non-profit, public education and advocacy group dedicated to improving the energy literacy of all sectors of our democracy in order to empower a comprehensive national energy policy that is responsible and sustainable. Stay tuned for updated energy news!
Monday, June 22, 2009
Budget Office Releases Controversial Energy Bill Costs
The Congressional Budget Office (CBO) released its findings late Friday for costs per household under HR 2454, the comprehensive energy package under consideration in the House of Representatives.
The CBO calculated average cost to be $175 per household per year. To calculate these expenses, CBO evaluated only the cap and trade legislation portions. Costs will be higher for wealthier households, based on a net cost of $22 billion.
Critics have cited the CBO's estimates as overly optimistic. The costs calculate expenses for only part of the bill, and count benefits like free permits to offset costs. Without these provisions, total cost may reach beyond $110 billion in 2020, or $890 annually per household.
HR 2454 is expected to be put up for full debate in the House by July.
To read more about this issue in The New York Times, click here.
The CBO calculated average cost to be $175 per household per year. To calculate these expenses, CBO evaluated only the cap and trade legislation portions. Costs will be higher for wealthier households, based on a net cost of $22 billion.
Critics have cited the CBO's estimates as overly optimistic. The costs calculate expenses for only part of the bill, and count benefits like free permits to offset costs. Without these provisions, total cost may reach beyond $110 billion in 2020, or $890 annually per household.
HR 2454 is expected to be put up for full debate in the House by July.
To read more about this issue in The New York Times, click here.
Labels: climate change, environment, global warming, u.s. energy policy
posted by Amanda Voss at 1:32 PM
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