ABC News: "Climate Change bill would cost each household $79 - $146 per year"

Partisans freaking out about the costs of the Senate's proposed American Power Act should take a deep breath.  ABC News reports that an EPA study shows that the clean energy bill would cost between $79 and $146 per household per year. McClatchy has more:

The energy and climate bill that Republicans call a light-switch tax would lower electricity bills, at least in its early years, the Environmental Protection Agency reported Tuesday...

The EPA also estimated that the overall cost of the legislation would be an average of $79 to $146 more per household per year through 2050, including higher energy costs and increased prices of goods and services.

The bill would require electric utilities and large industries to pay for permits to emit heat-trapping gases such as carbon dioxide. The permits could be traded on a market. Oil and gas sectors also would have to buy permits in quarterly auctions but wouldn't trade them. The bill also would put a declining limit on the amount of carbon pollution that large sources can emit. Farms and small businesses would be exempt.

Read the EPA study here.