Climate bill possible "in weeks": Sen. Boxer

Reuters is reporting:

The Senate's top environmental lawmaker offered a preview on Wednesday of major component of climate change legislation she said could be introduced "in weeks, not months."

Senator Boxer set out a set of principles that would guide her global warming legislation:

-- set "certain and enforceable" short and long-term emissions targets;

-- ensure state and local entities keep working to address global warming;

-- establish a market-based system that cuts carbon emissions;

-- use revenues from this carbon market to help consumers make the transition to clean energy and invest in new technology and efficiency measures;

-- ensure a level global playing field with incentives for polluting countries to give their share to the international effort to curb climate change.

Let's hope Senator Boxer and the other deep thinkers in Congress are aware of the cost of this legislation to our economy and our families. Will they listen to their own budget office?

Congressional Budget Office - 2007

According to a 2007 study conducted by the Congressional Budget Office (CBO), reducing greenhouse gas emissions by a mere 15 percent would cost the average household nearly 3 percent of its income. A family making $50,000 per year would be forced to pay an extra $1,400 every year for the same goods and services it purchases today. "Most of the cost of meeting a cap on CO2 emissions would be borne by consumers, who would face persistently higher prices for products such as electricity and gasoline.”

Will they listen to MIT?

Massachusetts Institute of Technology - 2007

A 2007 study by economists at the Massachusetts Institute of Technology (MIT) reached similar conclusions. According to the MIT study, mandatory greenhouse gas reduction schemes similar to those most popular in Congress and the state legislatures would cost typical families of four close to $5,000 each and every year.

They are aware of these studies and others with similar findings, but will dispute or ignore them. They are intent on imposing this restrictive legislation no matter the damage to our economy or the cost to families. Get ready.

Thanks to James Taylor of the Heartland Institute for the CBO and MIT info.