Watch for the build up on this talking point from the right.
Think Progress reports that Republicans are falsely claiming that the cap-and-trade aspect of the President’s budget proposal would result in American households paying $3,100 more in energy costs.
House Republicans apparently took the total revenues from the hypothetical cap and trade system that MIT analyzed and crudely divided it by the number of households in America, getting approximately $3,100 per family.
What they don’t mention, however, is that not only did John Reilly (MIT professor and author of the report on which the $3,100 figure is based) explicitly tell them that this was an inappropriate way to do this calculation, but that MIT had determined the net welfare effect on a typical family and the burden would be less than 1/40th what they claim, and wouldn’t occur until 2015.
Is it just me or does it sound like Republicans are fighting for energy companies that don’t want to spend the money on a green upgrade?
Please read the entire article from Think Progress here.