Cap and trade to cost $12,000 per family annually

Read about it here at Washington Watch: 

Last week, the Congressional Budget Office issued a cost estimate for H.R. 2454, the American Clean Energy and Security Act of 2009. The bill would establish not one, but two “cap-and-trade” programs designed to limit the release of undesirable gasses into the atmosphere.

“Cap-and-trade” is when the government limits (”caps”) the emissions of greenhouse gasses and hydrofluorocarbons then issues tradeable credits for emissions. The idea is to force industries to find the most efficient ways they can to reduce these gasses and improve the environment.

But cap-and-trade don’t come cheap. The estimated cost of the bill is about $12,000 per U.S. family. It’s the most costly bill in the current Congress, just like a similar bill was in the last Congress.