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Tuesday, 22nd September 2009

Global Warming Tax Costs Revealed in FOIA Treasury Dept Documents, CEI Analysis Confirms Massive Tax on Energy

Global Warming Tax Costs Revealed in FOIA Treasury Dept Documents, CEI Analysis Confirms Massive Tax on Energy
Source: Competitive Enterprise Institute

Internal Treasury Department documents released this week confirm the Obama administration’s expectations for a nationwide global warming “cap and trade” plan. The documents were obtained by CEI Senior Fellow Christopher Horner through a Freedom of Information Act request.

Internally, Treasury indicates it expects that the sort of plan that the president is calling for – a plan that either immediately auctions off carbon dioxide emission permits or sells nearly all after a few years of giving industry most of its permits for free – would bring from $100-200 billion per year in revenue for the government.

That is money taken either directly from household and business energy consumers, according to the Congressional Budget Office when it was headed by Obama's budget director, Peter Orszag. (See Orszag statement.) Those billions translate into between one and two thousand dollars per year for the average household.

+ FOIA documents from the U.S. Treasury (PDF: 873 KB))


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