Yesterday, I blogged on how CEI’s Chris Horner used the Freedom of Information Act to uncover internal documents from the Obama administration in which Treasury Department officials admit that a cap-and-trade would impose a steep energy tax on American families.
In only 24 hours, the story has gone viral.
Here’s what CBS News is reporting:
The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.
A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration’s estimate, the cost per American household would be an extra $1,761 a year.
To read the internal Treasury Department documents, click here.