CBO boosts climate bill

Senate backers of a long-shot bid to pass legislation with greenhouse gas caps got some fresh help Wednesday when the Congressional Budget Office reported that one high-profile proposal would help curb the federal deficit by about $19 billion over the next decade.

The CBO analysis of the American Power Act, championed by Sens. John Kerry (D-Mass.) and Joe Lieberman (I-Conn.) found that government revenues would grow by about $751 billion from 2011 to 2020 if the bill became law. By contrast, the legislation would create direct spending of $732 billion over the same 10-year period.