Obama Administration: Cap & Tax Could Cost Families $1,761 A Year

An Internal Obama administration document released under the FOIA act admits Cap and Tax will cost American households an extra $1,761 a year.

From CBS News Talking Liberties Blog:

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.