REV-37 IMPOSE A CARBON-BASED EXCISE TAX ON FOSSIL FUELS

                                Annual Added Revenues
                                (Billions of dollars)             Cumulative
Addition to          -----------------------------------------    Five-Year
CBO Baseline         1994     1995      1996     1997     1998     Addition
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CO2 Stabilization Tax 25.9  38.7     40.1     41.6     43.1    189.4

Phased-In CO2
Reduction Tax      10.4     26.4     43.1     61.0     80.1    221.0

EC Carbon/Energy Tax 22.3   40.3     51.8     63.3     75.2    252.9
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SOURCE:  Joint Committee on Taxation.

NOTE:  Estimates are net of reduced income and payroll tax revenues.

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