Since Barack Obama’s appointment as President of the US, one clear aim of his administration has been the environmental perform of the US domestically and internationally, and one of the main talking points since his inauguration has been the proposals for his US climate change bill, which has won both massive support and fervent criticism.
In opposition, some have argued that the cost to the average US citizen could exceed $3000 a year. Whilst many would accept that environmental reform is an important goal during Obama’s presidency, such a figure has encouraged a sense of worry in some circles.
Today, though, the Congressional Budget Office has estimated that it would cost less than $200 a year, marking a significant discrepancy between figures. With the Congressional Budget Office formed under a strictly neutral role, active and passive supporters alike will welcome the news.
In an official statement, the Congressional Budget Office argued that, “The net annual economy wide cost of the cap and trade program in 2020 would be $22 billion, or about $175 per household”.
Whilst the estimated $175 is far lower than opposition initially claimed, some argue that those on low incomes could still struggle, particularly in a domestic and global recession, to make the extra money needed to cover the climate change bill. It is hoped, however, that aid and benefits will be provided alongside the changes, and supporters argue that the net benefit for low income households will be apparent in the long term.
The Congressional Budget Office further stated that,
“The lowest-income households would actually gain under the bill. The second-lowest income households would face average daily costs of only 11 cents. And energy efficiency measures alone would save the average household nearly as much money as the pollution reduction programs would cost under this bill.”
The US climate change bill, then, could further draw a link between social reform and environmental reform, just as the UK’s Green Party, with its support for a Green New Deal, hopes to draw the problem of unemployment into a direct correlation with environmental reform and social welfare.
Given the environmental policy of previous US presidents, Barack Obama’s climate change bill should prove revolutionary, even if concessions are made.
