The US Congressional Budget Office reports that the Waxman-Markey legislation would generate almost $900 billion in revenue by 2019 through allowance auctions. Between 2010 and 2019, the bill would raise about $845.6 billion, but the report found that the government’s take would be jus t $24.4 billion — the remaining $821.2 billion would be reinvested in carbon cutting technologies, including carbon storage research, loans to help automakers develop better fuel mileage, renewable developments, and energy efficiency grants and programs. (Source: Business Green, June 9, 2009).

Contact: Budget Analysis Division, Congressional Budget Office, Government of the US, (202) 226-2800, www.cbo.gov.