The Dernogalizer

July 7, 2010

CBO: Kerry-Lieberman “American Power Act” Cuts Deficit by $19 Billion

See CBO’s letter to Senator Kerry here, press release is below.

CBO: Kerry-Lieberman “American Power Act” Cuts Deficit by $19 Billion

FOR IMMEDIATE RELEASE: Wednesday, July 7, 2010

DC Press Office: 202-224-4159

WASHINGTON, D.C. – Senators John Kerry (D-Mass.) and Joe Lieberman (I-Conn.), co-authors of the Senate’s comprehensive energy independence and climate change legislation, the American Power Act, highlighted today’s new scoring from the Congressional Budget Office’s showing the American Power Actreduces America’s deficit by over $19 billion over ten years.

The scoring, released today at cbo.gov, also shows the Kerry-Lieberman bill complies with the Senate’s budget rules.

“Today, the Congressional Budget Office has sent Congress a powerful message:  our comprehensive energy and climate bill will slash America’s deficit by over $19 billion,” said Sens. Kerry and Lieberman.  “There is no more room for excuses – this must be our year to pass comprehensive climate and energy legislation and begin to send a price signal on carbon. Many of our colleagues have said they flatly oppose anything that adds a penny to the deficit, so we hope they look anew at this initiative which reduces it.”

For more information on the American Power Act, please visit kerry.senate.gov and lieberman.senate.gov.

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