To back up the claim, their staff pointed us to an M.I.T. report that says a similar a cap-and-trade proposal (the administration has not yet detailed their own version) would raise $366 billion per year...
"It's just wrong," said John Reilly, an energy, environmental and agricultural economist at M.I.T. and one of the authors of the report. "It's wrong in so many ways it's hard to begin."
Not only is it wrong, but he told the House Republicans it was wrong when they asked him.
You can watch the whole interview here. But be warned: it's painful. Many of the reporter's questions are actually less informed than the Luetkemeyer's responses.