In an apparent confirmation of the potentially heavy costs of pending climate change legislation, an internal U.S. Department of the Treasury memo last week conceded that a cap and trade law could cost American taxpayers up to $200 billion a year. At that upper end, said Treasury officials, the per household cost could rise to $1,761 annually – equivalent to a 15 percent tax increase! The memo was obtained under the Freedom of Information Act by a conservative think tank and the Obama Administration dismissed the memo as "unofficial." Activist groups argued the analysis did not weigh benefits from slower global warming.
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