As early as tomorrow, the U.S. House of Representatives could vote on a cap-and-trade bill designed to reduce the impact of harmful greenhouse gases. And while most Americans are in favor of greenhouse gas regulation, not as many want to foot the bill.

The cap-and-trade bill introduced by Reps. Henry Waxman (D-Calif) and Edward Markey (D-Mass) would set a limit on the U.S.’s greenhouse gas emissions while issuing or auctioning greenhouse gas “allowances” that can be bought and sold by people, companies or agencies as needed. Essentially, the bill would make greenhouse gas emitters pay for excessive emissions while providing encouragement for development of alternative energy sources. That extra cost could be passed along to consumers, with the prices of goods and energy potentially going up in price.

A Washington Post-ABC poll showed that 75% of Americans want greenhouse gas regulation, but while that support crosses party lines, it tends to divide by age, with younger Americans more in favor of regulation and cap-and-trade. It also divides by household income, as those who make less money are less inclined to support legislation that could raise prices on necessary goods and services (current estimates say cap-and-trade could cost the average household $175 more per year in 2020). Right now, 62 percent of Americans support regulation even if it raises the cost of goods and services, but that number drops to 56 percent when asked if they would support a $10 increase in utility costs. Still, that’s more than half of Americans willing to pay a little more out of pocket in order to reduce the output of harmful greenhouse gas emissions; that’s a very positive message to those who support “going green” and reducing our carbon footprint.

Some opponents of regulation are opposed simply on principle, believing that the government should not be regulating businesses. Others are opposed because they deny global warming, despite the overwhelming evidence across the scientific community. But in general, the public supports regulation even with the potential costs, and the bill’s sponsors are hoping to get a vote on the legislation before the July 4 holiday. Even President Obama is on board with the bill, saying that it will create jobs in renewable energy technology and help us protect the planet for our children. Sounds like a win-win to us.

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