CBO estimates energy bill’s spending, revenue effects

08/15/2005
Congressional analysts estimate that the 2005 energy bill will increase direct spending by $2.2 billion from fiscal 2006 through 2010 and reduce federal revenue by a projected $7.9 billion from fiscal 2005 through 2010.Douglas Holtz-Eakin, director of the Congressional Budget Office, made the estimates in a July 27 letter to House Energy and Commerce Committee Chairman Joe Barton (R-Tex.).CBO and the Joint Committee on Taxation’s preliminary analysis shows that within Title III, the portion of the bill dealing with oil and gas, the biggest direct spending effect is $1 billion from coastal impact assistance. The bill budgets $250 million/year for this purpose in fiscal years 2007-10....
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