Cap and trade, it’s not a breakfast cereal or an off-season NFL strategy. Yes even though the NFL draft starts tomorrow, but no, it is not some new football strategy or rule. So what exactly is cap and trade, and why are some Republicans predicting that it’s going to cost each household in the United States over $3,000 if this Democrat-sponsored global warming proposal gets approved?
To answer these questions, The Takeaway is joined by John Reilly, an MIT Environmental Economist. He is the man behind the curtain who actually calculated the cost of the proposed cap and trade. And he says that the GOP has misrepresented his data.