Obama's 2011 budget will include phantom cap-and-trade revenue

A trade publication is reporting this afternoon that President Obama’s 2011 federal budget proposal will assume receipt of billions of dollars in revenue generated from the cap-and-trade program even though that proposal appears now to be all but dead in Congress.

“The White House told Sen. John Kerry’s office that the president plans to assume revenue from the controversial climate policy approach. Kerry aides said they had assurances the revenue won’t be designated for issues unrelated to energy policy and combating climate change.