In a response to Senator Lieberman's request for an analysis of the impact on the U.S. if the Climate Stewardship and Innovation Act of 2007 (bill S. 280) were to be passed the E.P.A. wrote the following:
...emmissions under S. 280 would be approximately 1-3 percent lower than 2000 levels in 2030 and 1-5 percent lower than 1990 levels in 2050.
...reductions in Gross Domestic Product would range between 1.1 percent and 3.2 percent. (If enabling technologies are widely available.)
...gasoline prices would increase $0.68 per gallon and electricity by 25 percent by 2050. (That would only be the cost of the bill--not other factors that might lead to $10-20 a gallon gasoline prices.)

The E.P.A. analysis does not try to calculate the cost to the U.S. if higher operating costs cause these business to move overseas nor the cost environmentally if they move to countries with little or no environmental protections at all. In another letter to Senator Spector the E.P.A. reports that Bingaman-Specter (S. 1766) requires a smaller percentage reduction of emissions in covered sectors, but since S. 1766 has broader coverage than S. 280, the total abatement achieved by both bills is similar.