WASHINGTON (Reuters) - President Barack Obama's budget outline projects the government will raise $646 billion in revenue from a greenhouse gas emissions trading system from 2012 through 2019.
The money generated from the cap-and-trade program would go toward $150 billion in clean energy technology investments over 10 years and a "making work pay" tax credit.
The Obama administration will work with Congress to develop an economy wide system that would place a limit on emissions from large industries and require them to buy and sell permits for the greenhouse gases they emit.
(Reporting by Ayesha Rascoe; Editing by Marguerita Choy)
