Estimates of the cost of the scheme vary greatly
As the US government prepares to vote on a groundbreaking cap-and-trade bill, the Congressional Budget Office (CBO) has drastically undercut Republican estimates of how much it would cost the average American household.
In an analysis of the cost of a cap-and-trade programme, the CBO said the price of such a scheme in 2020 would be $22bn (£13bn), which equates to about $175 per household.
"That figure includes the cost of restructuring the production and use of energy, and of payments made to foreign entities under the programme, but it does not include the economic benefits and other advantages of the reduction in greenhouse gas emissions and the associated slowing of climate change," the Office said in its analysis.
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