Moreover, Treasury redacted portions of the documents. One internal memo on cap-and-trade said that "given the administration's proposal to auction all emission allowances, a cap-and-trade program could generate federal receipts on the order of $100 to $200 billion annually," but the Department blacked out the $100 billion-$200 billion figure. Horner said Treasury redacted the figure because it was "highly embarrassing" for the administration.

Days later, Treasury re-released the same documents without any portions redacted.

Treasury said they are currently considering the appeal.

In a statement two weeks ago on the issue, Treasury’s Assistant Secretary for Economic Policy Alan Krueger said, “The reporting on the Treasury memo is flat out wrong. Treasury’s summary is consistent with public analyses by the EIA, EPA, and CBO, and the reporting and blogging on this issue ignore the fact that the revenue raised from emission permits would be returned to consumers under both administration and legislative proposals. It is time for an honest debate about how to solve a long-term challenge and deliver comprehensive energy reform, not for misrepresentations of the facts.”

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