The Congressional Budget Office has issued a cost analysis of S. 2191, the Lieberman-Warner cap-and-trade climate-change bill. Among the conclusions: The costs to the private sector would violate limits set by law under the Unfunded Mandates Reform Act.
Which is to say, great googly moogly! From the CBO budget estimate:
The most costly mandates would require certain types of private-sector entities to participate in the cap-and-trade programs for GHG emissions created by the bill. CBO estimates that the cost of those mandates would amount to more than $90 billion each year during the 2012-2016 period, and thus substantially exceed the annual threshold established in UMRA for private-sector mandates ($136 million in 2008, adjusted annually for inflation).
We’ll be interested in the reaction from command-and-control crowd on the environmental left: Attack the methodology or just ignore this study? We’re guessing the latter.
More from CQ Politics here, with this interesting summary: “The Congressional Budget Office concluded that the bill would increase overall federal revenues by $1.21 trillion between 2009 and 2018, although the net increase would be just $78 billion after new spending was factored in.” Another way of looking it that is, the federal government is taking that much — $1.21 trillion — out of the economy, the pockets of businesses, consumers and taxpayers, and directing its use. It represents a huge expansion of government control over our daily lives.
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