By Dick Kamp (This is the first of a two-part news analysis of federal lawmakers efforts to address climate change.)
By just seven votes, the House of Representatives passed a 1,428- page plan on June 26 to reduce the United States carbon emissions, the major cause of climate change as agreed upon by the vast majority of global scientists.
Looking for just the right speaker for your organization’s next meeting or event?Want to know more about Arizona’s infrastructure issues, the ACC-considered to be Arizona’s fourth branch of government, or the effect of climate change on Arizona’s businesses?
CBO Estimates on the Cost of Cap & Trade Programs (HR 2454)
Immediately prior to passage of the Waxman-Markey energy bill, H.R. 2454, in the House of Representatives, (a.k.a. “American Clean Energy and Security Act” or “ACES”) the Congressional Budget Office released its estimates of economy-wide costs due to the cap-and-trade provisions of the bill.
The CBO estimates that the bill would cost the American economy $22 billion, or about $175 per household annually by the year 2020. Of course, the distribution of costs among households would affect some income groups more than others as a result of the complex formulae used to allocate emission allowances among economic sectors, and the use of any auction proceeds to offset rising energy prices.
With the State of Arizona facing the prospect of massive budget deficits over the next two fiscal years, lawmakers and stakeholders are now engaged in an historic effort to identify solutions to this growing problem. Suggestions for closing the budget gap are being proposed not only by the Governor and the legislature, but also by citizens, think tanks and even our universities.
