CBO Puts Price Tag On Climate Change Bill

Law360, New York (June 8, 2009, 12:00 AM EDT) -- The Congressional Budget Office has released its first cost estimate of the Waxman-Markey climate change bill recently approved by the House of Representatives Committee on Energy and Commerce, finding that it would increase federal revenues by $826 billion over a nine-year period, as well as increase federal spending by about $821 billion.

In numbers released late Friday, the CBO said that between 2010 and 2019, the legislation, if enacted, would reduce budget deficits in total by about $24 billion over the period.

In addition, implementing the...
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