A White House memo released Tuesday challenged an Environmental Protection Agency ruling that could result in the regulation of greenhouse gases because it could have severe consequences for the U.S. economy.

Making the decision to regulate carbon dioxide ... for the first time is likely to have serious economic consequences for regulated entities throughout the U.S. economy, including small businesses and small communities, the document Deliberative-Attorney Client Privilege stated according to the Associated Press.

A White House aide and Office of Management and Budget spokesman said the view doesn't reflect the administration's view but rather the opinion of a single undisclosed federal agency, according to AP.

The EPA ruled for the first time on April that greenhouse gases are a threat to public health and welfare. This could lead to the regulation of those gases, which are blamed for climate change.

The agency's administrator, Lisa Jackson, proposes to tackle greenhouse gas emissions with a market based program such as a cap-and-trade system, she said today at a hearing about the EPA's budget for 2010.