The energy-and-climate bill authored by Sens. John Kerry, D-Mass., and Joe Lieberman, I-Conn., would reduce the federal deficit by $19 billion within 10 years, according to the Congressional Budget Office. The measure is also projected to increase government revenue by about $751 billion through 2020, mostly through the creation of a carbon market, the CBO said. "Many of our colleagues have said they flatly oppose anything that adds a penny to the deficit, so we hope they look anew at this initiative which reduces it," said Kerry and Lieberman in a statement.

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