Estimates of the cost vary widely. A 15% cut in carbon emissions would cost the average American household about $1,600 a year, according to March 12, 2009, Congressional Budget Office testimony. Climate legislation passed by the House in June offsets most of the cost to consumers by returning some of the revenues to offset any significant spike in electricity costs. | Estimates of the cost vary widely. A 15% cut in carbon emissions would cost the average American household about $1,600 a year, according to March 12, 2009, Congressional Budget Office testimony. Climate legislation passed by the House in June offsets most of the cost to consumers by returning some of the revenues to offset any significant spike in electricity costs. |