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"It would be a huge shock to their fiscal and trade systems," he said.
Pope Francis rejects "simple solutions" to climate change such as cap and trade systems, which he says give rise to harmful speculation.
This must include reform of tax, lending, banking and trade systems – and a total re-think of the role of the state in the economy.
Two large and related problems plague cap and trade systems.
The incoming administration is talking about cap and trade systems for controlling and pricing carbon emissions.
The sorry episode comes as Congress continues to invite record deficits with health care and cap and trade systems.
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They can also join regional cap-and-trade systems, McCarthy said.
Others, including California, have instituted cap-and-trade systems aimed at limiting carbon emissions.
She took heart, she said, from the interest in cap-and-trade systems in other parts of the world.
By contrast, cap-and-trade systems limit amounts of carbon emissions, leaving the market to determine the price for polluting.
Meanwhile, nine north-eastern states and California are already rewarding power companies which cut carbon through operating cap-and-trade systems.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com