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...overall legislation would expand energy efficiency and renewable fuel incentives, end many tax breaks for oil and gas companies, increase the mandate on biofuels (such as ethanol made from corn and soybeans) from 6 billion to 36 billion gallons, authorize a carbon sequestration pilot project (which would trap carbon emissions underground) and make price gouging on oil and gas a federal crime. Ironically, it was meant to be the easy one of the two planned global warming bills. The second, expected later this summer, would set a cap on and establish reduction timetables for carbon emissions...

Author: /time Magazine | Title: Green Concerns Over the Energy Bill | 6/19/2007 | See Source »

...favor of the immigration bill, though he has promised to finish the measure before July 4 recess. The bill probably has enough in it pleasing to other constituencies - farming states love the biofuel provision, wind states like the renewable incentives and most Democrats want to see the tax breaks for oil and gas companies go away - to pass Congress. But Democrats will have their work cut out for them to appease environmental groups if the bill is passed over their objections...

Author: /time Magazine | Title: Green Concerns Over the Energy Bill | 6/19/2007 | See Source »

...reform will be to keep his promise to "restore the value of work" - which will probably mean encouraging people, perhaps by way of legal subsidies, to work beyond France's controversial legal limit of 35 hours per week. He's also likely to propose a series of credits or tax reductions to allow people to hold on to earnings. He is also likely to find savings in social services to cut France's spiraling public debt. Another area where Sarkozy is expected to act quickly - perhaps in July - is with a series of measures that stiffen punishment for criminals...

Author: /time Magazine | Title: No Tsunami Victory for Sarkozy | 6/17/2007 | See Source »

...near the bottom, with the average wage earner able to count on a government-mandated pension for just 52.4% of what he got (after taxes) in his working days--and higher-income workers even less. But the picture at the other end of the scale (dominated by Continental Europe) is misleading. Most of these governments haven't put aside money for pensions. As the ranks of retirees grow and workforces do not, countries will have to either renege on commitments or tax the hides off future workers...

Author: /time Magazine | Title: Where Retirement Works | 6/14/2007 | See Source »

...where's the pain? Up the income scale. Health care would no longer be tax deductible. Those with incomes of more than 400% of poverty (about $82,000) would have to pay for their health-insurance premiums themselves. And the insurance industry will certainly yowl over what promises to be a more tightly controlled market. Of the major candidates running for President, only Mitt Romney-a Republican-has actually passed a mandatory universal system, in Massachusetts, which subsidizes health-care premiums for the working poor. So far, two leading Democrats, John Edwards and Barack Obama, have proposed universal plans...

Author: /time Magazine | Title: The Courage Primary | 6/13/2007 | See Source »

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