President Obama's meeting with about three dozen Democratic members of the House Energy and Commerce Committee, including Rep. Henry Waxman (D., Calif.,), and Rep. Edward Markey (D., Mass.), calls for curbing U.S. emissions by roughly 80% below 2005 levels by 2050 via a cap and trade program. There are 59 members on the Energy and Commerce Committee.
The Center supports President Obama's plan and we believe the allowances should be distributed free to utilties the same way they were allocated in the successful Acid Rain Program. (WJS, 5/6/09)