The CBO sent this letter [PDF] to Joe Barton, Chairman of the Energy Committee, to let him know that yes, indeed, the energy bill will be putting a hole in the budget. The CBO estimates that the bill will reduce revenues by over $2 billion a year in 2008 and by a total of $12 billion over the period from 2005-2015.
However, I don’t know that the CBO included this lovely addition from one Tom Delay. That story isn’t really getting too much press this morning — the Boston Globe is probably the most widely circulated paper running a story.
