Climate Bill Would Save $19B, CBO Reports

environmentalleader.com (Jul 8 2010) Monitoring , Carbon Footprint , Emissions , Fossil Fuel

1. The climate bill being discussed in Congress would cut $19 billion off the national debt, according to the Congressional Budget Office (CBO) in a finding that could increase the odds of the bills passage, according to press reports. The Associated Press reported that several senators have told Sen. Joe Lieberman (I-CT), one of the bills co-sponsors, that they would oppose the bill if it added to the national debt. The CBO report could convince many of those senators to support the bill. The bill, which would tax carbon emissions from large emitters like coal-fired power plants, would bring in an estimated $751 billion in new revenue over the next ten years, according to the CBO, while increasing spending by almost $732 billion through rebates and incentives. (Read Full Article)

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