Congressional Budget Office Says Waxman-Markey Legislation Would Generate About $850 Billion Over 10 Years

The Congressional Budget Office Cost Estimate for the Waxman-Markey legislation predicts that revenue generated by auctions of carbon emissions credits will be $846 billion from 2010-2019.

By fiscal year, the projections (in billions) are:

2010: .9

2011: 39.1

2012: 59.1

2013: 63.5

2014: 90.6

2015: 104

2016: 112.3

2017: 117.6

2018: 126.1

2019: 132.3

All but about $24 billion of the revenue will be used to pay for programs proposed in the legislation.