Feds To Net $624B In 'Climate Revenues'

Law360, New York (May 11, 2009, 12:00 AM EDT) -- The Office of Management and Budget has released the final installment of President Obama's budget for 2010, which projects "climate revenues" from a cap-and-trade program over the next 10 years of $624 billion.

On Monday, OMB released the last volumes of the FY 2010 budget that includes an estimated $624 billion in "climate revenues," which the federal government will raise through a carbon dioxide cap-and-trade program.

The White House said that it hoped to reduce emissions levels to about 14 percent below 2005 levels by 2020,...
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