“Energy Only” Bill Got a Failing Score From CBO
The recently much touted alternative “energy only” bill would not cost fossil industries, but instead would cost taxpayers $13.9 billion a year, according to this scoring by the bipartisan Congressional Budget Office – that has been gathering dust since September. This failing grade from the CBO has received no publicity at all. I can’t imagine why, can you?
The bill would authorize a total of $48.6 billion over the first three years. It would add $13.5 billion each year to the deficit.
Renewable energy would share $10.4 billion of the $48 billion with electricity supply and electricity delivery funding (or a little over $3 billion a year for renewable energy). Nuclear energy would get $5.2 billion a year, and $5.5 billion a year would go to fossil energy. The remaining $27 billion would be allocated to science programs.
The bill has no self-funding mechanism.
By contrast, revenues created by the cap and trade component in the Clean Energy Jobs and American Power Act (CEJAPA) would actually fund its renewable energy component, and leave some extra ($21 Billion a year) according to the Congressional Budget Office scoring in December.











