Climate Change: Federal Reports on Climate Change Funding Should be Clearer and More Complete

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DIANE Publishing, 2006 - 51 pages
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The admin. reports annually on fed. spending on climate change. OMB reports funding in 4 categories: technology (to reduce greenhouse gas emissions), science (to better understand the climate), internat. assist. (to help developing countries), & tax expend. (to encourage reductions in emissions). The Climate Change Science Program (CCSP) reports only on science. To measure funding, OMB can enter into financial obligations that will result in gov't. outlays. This report examines fed. climate change funding for 1993 through 2004, including: how total funding & funding by category changed & whether funding data are comparable over time; & how funding by agency changed & whether funding data are comparable over time. Charts & tables.

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Page 7 - The reporting requirement had called for "(A) the amounts spent during the fiscal year most recently ended; (B) the amounts expected to be spent during the current fiscal year; and (C) the amounts requested for the fiscal year for which the budget is being submitted." 'To maintain consistency with OMB data, which are available from 1993
Page 25 - The federal budget process is complex, and there are numerous steps that culminate in the outlay of federal funds. Among the key steps in this process are the following, as defined by OMB: • Budget authority means the authority provided in law to incur financial obligations that will result in outlays. • Obligations are binding agreements that will result in outlays, immediately or in the future.
Page 2 - The revenue losses resulting from provisions of federal tax laws may, in effect, be viewed as expenditures channeled through the tax system. The Congressional Budget and Impoundment Control Act of 1974, as amended, requires that the budget include the level of tax expenditures under existing
Page 44 - you for the opportunity to review and comment on the General Accounting Office's draft report entitled:
Page 21 - $330 million in revenue losses was estimated for new technology tax credits to reduce the cost of generating electricity from renewable resources. A credit of 10 percent was available for investment in solar and geothermal energy facilities. In addition, a credit of 1.5 cents was available per kilowatt hour of electricity produced from renewable resources such as biomass, poultry waste, and wind facilities.
Page 32 - Treasury also produces outlay equivalent estimates—the amount of budget outlays that would be required to provide the taxpayer with the same after-tax income as would be received through the tax expenditure.
Page 44 - These comments were prepared in accordance with the Office of Management and Budget Circular A-50.
Page 7 - In 1992, the United States signed and ratified the United Nations Framework Convention on Climate Change, which was intended to stabilize the buildup of greenhouse gases in the earth's atmosphere, but did not impose binding limits on emissions.
Page 1 - International assistance, which helps developing countries to address climate change by, for example, providing funds for energy efficiency programs. • Tax expenditures related to climate change, which are federal income tax provisions that grant preferential tax treatment to encourage emission reductions by, for example, providing tax incentives to promote the use of renewable energy.
Page 3 - A more detailed description of our scope and methodology is presented in appendix I.

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