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Republicans have been screaming blue murder for months about the cost of the cap-and-trade provision of the Waxman-Markey climate change bill.  It’s going to cost us $1,600 each! No, that’s wrong: it’s going to cost us $3,100 each!  Head for the hills!

So Rep. Dave Camp, the ranking Republican on the House Ways and Means committee, asked the Congressional Budget Office for a verdict.  And guess what?  The net cost turned out to be — at most — $175 per household by the year 2020.  That’s less than $70 per person:

The Congressional Budget Office (CBO) estimates that the net annual economywide cost of the cap-and-trade program in 2020 would be $22 billion — or about $175 per household. That figure […] does not include the economic benefits and other benefits of the reduction in GHG emissions and the associated slowing of climate change….Overall net costs would average 0.2 percent of households’ after-tax income.

Low income households would fare even better.  The CBO’s table of net costs is below.

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IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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