Wednesday, June 24, 2009

Center Supports Waxman/Markey Climate/Energy Bill

The House Rules Committee has issued the latest 1,201 page version of the American Clean Energy and Security Act (Original Version) and a vote is scheduled for Friday. The Center supports the legislation as currently drafted and will lobby for its passage right up until the last minute in the House. Then on to the Senate. The legislation includes a much needed cap-and-trade system to limit the nation's greenhouse gas emissions.

The bill includes:

$7.5 billion in "green bonds" for a new federal financing agency called the Clean Energy Deployment Administration,

Extra emission allowances for politically powerful rural electric cooperatives,

Greater flexibility for states that want to use free allowances for mass transit,

Enhances benefits for biofuel producers and major petroleum refiners.

House Agriculture Committee Chairman Collin C. Peterson (D-Minn.) was evidently successful in pressuring the Democratic leadership to move offset management from the EPA to the Agriculture Department. We oppose this proposal. EPA has more experience with managing a cap and trade program through its Acid Rain Program. (Wash Post, 6/24/09)

Latest Version of Bill (House Rules Committee)

Latest Version of Bill ( House Energy & Commerce Committee)

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