Word: markey
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That the bill - also known as Waxman-Markey after its co-sponsors, the Democratic Congressmen Henry Waxman and Edward Markey - is historic is obvious, as it marks the first successful attempt by Congress to address climate change at a national level. But as the bill moves to the Senate, where the virtual requirement for 60 votes means that passage will be even more difficult, it's far less clear that Waxman-Markey is strong enough to meet the long-term threat of global warming. The sheer difficulty of the negotiations that produced this 1,300-page bill - and the fact...
...important to understand what the climate-change bill does and doesn't do. The bill includes a raft of energy-efficiency provisions and a renewable-energy standard that will require 20% of all U.S. electricity to come from alternative sources by 2020. Chiefly, though, Waxman-Markey puts a cap on almost all of the greenhouse-gas emissions produced by the U.S. economy - everything from utilities to industry to transportation - setting a limit on how much carbon the country can produce. Industries are issued allowances each year that give them the right to emit a certain amount of carbon; they have...
True, no economic forecast of 15 years into the future is ironclad, but there are enough safety valves and offsets in Waxman-Markey to ensure the cost will be manageable. But that's the problem. To keep conservative Democrats on board - especially those in the coal-heavy Midwest and Southeast - Waxman and Markey allowed the bill to be watered down considerably, loosening the overall carbon cap and scaling back the renewable-energy standard. When the powerful farm lobby balked at the bill, it was changed to allow farmers to sell offsets from agriculture, such as no-till farming, which leaves...
...timing of the new report is perfect. A bill to cap U.S. carbon emissions, sponsored by Democratic Representatives Henry Waxman and Edward Markey, is making its way through Congress and could be up for a vote in the House of Representatives as soon as next week. Although the bill has the support of the White House and has been watered down considerably to earn centrist and conservative votes, it will still struggle to become law. Opponents argue that cap and trade will ruin the U.S. economy by raising energy prices. But while there are arguments to be made against...
...Washington Pollution and Politics On May 21, the American Clean Energy and Security Act--also known as the Waxman-Markey Bill, after its Democratic authors--passed through a House committee. If approved, the 1,000-page bill would institute the nation's first federal cap-and-trade system for reducing greenhouse-gas emissions...