Cap and trade would generate $900 million revenue

The controversial proposed cap and trade legislation would create about $900 billion worth of revenue over the next decade, according to a report released today by the Congressional Budget Office.

Cap and trade is a way of limiting the amount of pollutants a company can release by setting a maximum legal limit. Companies that cannot (or are not willing to) stay under this legal limit can buy credits from companies that are under the legal limit. In theory, this does two things: First, it rewards companies who pollute less. And, second, it controls the amount of pollutants being released into the air.

For more info on the report, check out this story from Business Green.