Obama’s climate plan should not pass on costs to the poor
Opponents - Democrats and Republicans - of President Barack Obama's climate change plan worry that the plan will pass on the costs of cleaner energy to the poor.
Under the President's cap-and-trade plan, industries that release greenhouse gasses can exceed legal pollutant limits by buying emission allowances from the government. Revenue from this plan is expected to generate $647 million, most of which will be used as tax credits to help the poor and middle class bear higher energy expenses.
Opponents of the plan say industries will pass on costs to the customers, and the tax credits will not be enough to compensate for higher energy costs.
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