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WASHINGTON (Reuters) - President Barack Obama's budget accounts for revenues from an emissions trading system in 2012, White House spokesman Robert Gibbs said on Tuesday.
"That's true," Gibbs said when asked whether a cap-and-trade system for greenhouse gases would be in place in time for revenues to be generated by 2012.
The president, a Democrat, has said he wants the United States to take the lead in fighting climate change.
During his presidential campaign Obama laid out plans for a trading system that would set limits on greenhouse gases such as carbon dioxide and allow factories to trade permits to pollute more.