"CBO estimates that the net annual economywide cost of the cap-and-trade program in 2020 would be $22 billion—or about $175 per household. That figure includes the cost of restructuring the production and use of energy and of payments made to foreign entities under the program, but it does not include the economic benefits and other benefits of the reduction in greenhouse gas emissions and the associated slowing of climate change."
"CBO’s estimate also does not include the economic benefits of other provisions in H.R. 2454. The American Council for an Energy Efficient Economy estimates that the efficiency provisions alone could save businesses and consumers $22 billion annually by 2020. The savings would be $170 per household in 2020 –- roughly equal to CBO’s cost per household estimate for ACES in 2020."
"For a bit more on that subject, it's worth checking out the CBO's analysis of "Potential Impacts of Climate Change in the United States." It's basically a survey of the many, many, academic papers published on the topic, and it has the virtue of being both quite careful and quite comprehensive. (...) But as the paper makes clear, a lot of the global warming debate comes down to how much we care about people who aren't us. The actual economic drag projected for the United States in the 21st century is relatively modest: 3 percent or so. The worst of climate change comes in other countries and long into the future."
Sounds like a bargain to me.