“Based on a review of H.R. 2998, the American Clean Energy and Security Act, as amended and reported by the House Committee on Rules on June 26, 2009, CBO and the Joint Committee on Taxation (JCT) estimate that enacting the legislation would increase revenues by $873 billion over the 2010-2019 period and would increase direct spending by $864 billion over that 10-year period. In total, CBO and JCT estimate that enacting the legislation would reduce future budget deficits by about $4 billion over the 2010-2014 period and by about $9 billion over the 2010-2019 period CBO has not completed an estimate of the bills estimated impact on discretionary spending.”
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