The 3+% that I mention here above is based on the $14.5 billion in tax breaks that I've read over and over in the newspapers. A closer look at the costs shows that this is a small fraction of the cost of the bill. The CBO's cost estimate is about $41 billion, give or take the impact of a few unfunded mandates:
Most of the bill's estimated costs would stem from changes in spending subject to appropriation. We estimate that implementing the bill would cost $5.1 billion in 2006 and $35.9 billion over the 2006-2010 period from appropriated funds, assuming appropriation of the necessary amounts.
This puts the LA coastal erosion spending at a little over 1% (roughly .5/41).
Sorry 'bout that.
