Yesterday CBO released a cost estimate for S. 1733, the Clean Energy Jobs and American Power Act .... This legislation would make a number of changes in energy and environmental policies largely aimed at reducing emissions of gases that contribute to global warming. The bill would limit or cap the quantity of certain greenhouse gases (GHGs) emitted from facilities that generate electricity and from other industrial activities beginning in 2012.

...

CBO and the staff of the Joint Committee on Taxation estimate that over the 2010-2019 period enacting this legislation would:

  • Increase federal revenues by about $854 billion; and
  • Increase direct spending by about $833 billion.

In total, those changes would reduce budget deficits (or increase future surpluses) by about $21 billion over the 2010-2019 period. In years after 2019, direct spending would be less than the net revenues attributable to the legislation in each of the 10 year periods following 2019. Therefore, CBO estimates that enacting S. 1733 would not increase the deficit in any of the four 10-year periods following 2019.

via cboblog.cbo.gov


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