How much will Cap and Trade cost you?
Saturday, July 4, 2009 7:10If you have been wondering what the new Cap and Trade policy will mean to your bottom line. The Tax Foundation has released a tax calculator to show you the extra cost.
Washington, DC, June 4, 2009 – Americans can now estimate how much a U.S. cap-and-trade system would cost their individual households annually with the Tax Foundation’s new Household Cap-and-Trade Burden Calculator. The calculator can be found at http://www.taxfoundation.org/capandtrade.
The calculator is based upon a study released in March, Tax Foundation Working Paper No. 6, “Who Pays for Climate Policy? New Estimates of the Household Burden and Economic Impact of a U.S. Cap-and-Trade System.” The study shows that a cap-and-trade system designed to reduce greenhouse gas emissions by 15 percent would place an annual burden of $144.8 billion on American households. The average annual household burden would be $1,218, which would be approximately 2% of the average household income.
Read the rest of the article at taxfoundation.org/press/show/24750.html
