As the U.S. House of Representatives prepares for its vote on a crucial climate bill later on Friday, the Congressional Budget Office and the Environmental Protection Agency disputed claims that the measure would cost several thousand dollars per consumer.
The costs of fighting greenhouse gas pollution are modest and manageable, according to analyses of climate change legislation coming to the House floor that both the EPA and the CBO have issued in recent days, Chad Stone, Chief Economist at the CBO said in a statement yesterday.
View a full report from the CBO.
Congress is expected to vote on the American Clean Energy and Security Act between 3:00 p.m. and 4:00 p.m. EST today, according to AFP. Republicans are widely opposed to the bill saying it will make energy prices skyrocket for consumers to about $1,600 per household per year.
Republican Rep. Mike Pence has also called it a national energy tax on June 13.
The Democratic party needs at least 218 of the 435 votes in Congress to pass the bill to the Senate.
Annual costs that will result from enacting the American Clean Energy and Security Act would average $80 to $111 per household, according to the Environmental Protection Agency analysis.
The CBO estimated that net annual economy-wide cost of this specific bill would be about $175 per household.
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