Cap and Trade and the Economy

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Republicans on a key Senate committee announced Tuesday that they are boycotting the debate on curbing greenhouse gases.

An agreement on a climate change bill is going to be hard to come by in the Senate.
The Senate says they will stay away until Congress has fully examined the costs and impact of a so-called "Cap and Trade" bill on America.
The Obama administration says it will cost most households around $1,000 a year in higher energy prices.

Many conservatives estimate it will be more like $3,000 a household, and it will kill millions of American jobs.

Peter Schweizer is the author of more than a dozen books, including his most recent called Architects of Ruin: How big government liberals wrecked the global economy -- and how they will do it again if no one stops them.

Schweizer joined CBN News to discuss why he is not a fan of the cap and trade legislation.

What would this bill do to the economy? Click play to hear Schweizer's answer.

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