* End overfishing of depleted species
* Establish a selling and trading of shares in a fishery to promote conservation
* Empower fishery scientists, not the fishing industry, to set fishing levels;
studying and protect deep sea corals; and
* Allows the U.S. to sanctions countries practicing illegal pirate fishing internationally.
The law also increased summer catch limits for New England flounder. The cap-and-trade program is unique and mirrors the same sort of approach in 1990 Clean Air Act Amendments Acid Rain Program. The 30-year-old law is the main legislation regulating fishery management in ocean waters between 3 miles and 200 miles offshore. S. 2012 & H.R. 5018, the American Fisheries Management and Marine Life Protection Act, sponsored by Chairman Richard W. Pombo (R-Calif.), Rep. Barney Frank (D-Mass.) and Rep. Don Young (R-Alaska)