CITIZEN POWER ALLIANCE

Perhaps one of the biggest side-effects of the Senate bailout bill passed yesterday may prove to be the carbon tax measures tucked away in its 451 pages.

News Busters reveals that Section 117 mandates a ‘carbon audit of the tax code’ to be completed within the next two years that will determine which carbon tax measures will be put into place.

SEC. 117. CARBON AUDIT OF THE TAX CODE.
(a) STUDY.—The Secretary of the Treasury shall enter into an agreement with the National Academy of Sciences to undertake a comprehensive review of the Internal Revenue Code of 1986 to identify the types of and specific tax provisions that have the largest effects on carbon and other greenhouse gas emissions and to estimate the magnitude of those effects.

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