Obama: Cuts cap and trade revenue from budget
Follow the money, goes the old journalistic saw. And behold, Obama’s budget has shown us that there is no projected revenue from a cap and trade program in his latest budget proposal.
This is a departure from last year’s revenue forecast for 2012-2019, which showed revenues of $646 billion from cap and trade, according to Reuters.
Does this mean cap and trade is dead?
An unnamed administration source won’t commit either way, saying “the exact nature of the legislation remains in flux.”
Stay tuned.