Estimates show such a plan would increase taxes. According to a Massachusetts Institute of Technology study, cap and trade could add $3,100 in costs to each family's annual energy bill by 2016.Wow! That's a pretty frightening number.
It's also FALSE.
From M.I.T.'s April 1, 2009 letter to Rep. John Boehner (R-OH):
“It has come to my attention that an analysis we conducted examining proposals to reduce greenhouse gas emissions, Report No., 146, Assessment of U.S. Cap-and-Trade Proposals, has been misrepresented in recent press releases distributed by the National Republican Congressional Committee. The press release claims our report estimates an average cost per family of a carbon cap and trade program that would meet targets now being discussed in Congress to be over $3,000, but that is nearly 10 times the correct estimate which is approximately $340. Since the issue of legislation to control greenhouse gases is now under consideration, I wanted to take an opportunity to clear up any misunderstanding created by this press release and to avoid further confusion.Yes, Murphy's very scary number is off by a factor of almost 10.
And, just in case Boehner didn't pass that along to Murphy, Timmy could have found the same information at this very blog at the beginning of this month (see here).
If you click on that link, you'll see that David didn't just blog about this issue. He actually wrote to Murphy about it.
Guess Murphy's just been too busy to keep up with the FACTS...or something.