First on CNN: White House economists say a clean energy transition will lower consumer costs

The White House economists write that the costs of not responding to climate change through Biden's legislation will be steep.

White House Council of Economic Advisers member Heather Boushey and council economists Noah Kaufman and R. Daniel Bressler write that the climate and clean energy provisions in Biden's budget bill and a bipartisan infrastructure bill will increase energy efficiency, cut electricity costs and protect consumers from the "high costs of inaction" on climate.

"While President Biden's Bipartisan Infrastructure Deal and Build Back Better Agenda will create good-paying, union jobs and grow an equitable economy, many fear that reducing carbon emissions will place a burden on consumers through higher prices," the economists write. "Carbon emissions are embedded in the prices of many of the goods and services that a typical American consumer purchases, like food, housing, and transportation."