CEJAPA Auction Revenues Would Create 10 Climate and Clean Energy Funds

Looks like switching to a clean energy economy might just save the US economy too. The CBO scoring of the financial impact of the the Clean Energy Jobs and American Power Act has just been completed. As Senator Boxer put it in a statement on her website tonight “The CBO score shows that there is a way to design a clean energy and climate bill that is fiscally responsible and gets the job done – while protecting the health of our families and the planet.”
Indeed. The House version would drop the deficit $9 billion while reducing greenhouse gases 17% by 2020. The Senate bill goes one better. CEJAPA reduces the deficit $21 Billion while reducing GHGs 20% by 2020.
Auction revenues from cap and trade would be deposited into 10 new funds established by the legislation. Spending from those funds would not require any further appropriation action (read: filibuster!) CBO’s estimate of direct spending by these ten funds during the first ten years includes:
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