Declan McCullagh

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  • Conservative media advance CEI effort to attack cap-and-trade with irrelevant Treasury memos

    ››› ››› JOCELYN FONG

    Numerous conservative media figures have seized on outdated Treasury Department memos obtained September 11 by the Competitive Enterprise Institute (CEI) to falsely suggest that the Obama administration estimates that cap-and-trade legislation recently passed by the House of Representatives would cost up to $200 billion per year or $1,761 per household, and that, in Sean Hannity's words, "they didn't tell you the truth." However, the Treasury memos do not address the current House climate change bill but, rather, a proposal that would auction 100 percent of the emissions allowances; the bill under consideration spends revenue created by the program to offset costs to households and businesses.