Earlier this week, the Congressional Budget Office (CBO) released a cost estimate for S. 1733, the Clean Energy Jobs and American Power Act, which was ordered reported by the Senate Committee on Environment and Public Works on November 5, 2009.
The legislated would introduce several changes in environmental and energy policies to reduce emissions of gasses blamed for global warming. The bill includes limits or caps on the quantity of certain greenhouse gases released from electricity facilities and other industrial activities starting in 2012.
The CBO and Joint Committee on Taxation estimated that over the 2010-2019 period, it would increase federal revenues by about $854 billion.
That’s $854 billion that Americans will be prohibited from spending on what they want and will instead be spent on what the government feels they ought to want. Lovely.