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CBO says HR 2454 would add $846 billion in taxes

06/15/2009
A US House bill that would introduce a domestic carbon emissions cap-and-trade program would cost $846 billion in new taxes, the Congressional Budget Office said on June 5.CBO analyzed HR 2454, the 2009 American Clean Energy and Security. The House Energy and Commerce Committee approved HR2454 on May 21 by 33 to 25 votes.The bill’s net contribution to the federal budget would be about $24 billion because the bill would increase direct federal spending by $821 billion, CBO said.“In addition, assuming appropriation of the necessary amounts, CBO estimates that implementing HR 2454 would increase discretionary spending by about $50 billion over the 2010-19 period,” it indica...
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