Word: taxingly
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...carbon emissions 17% below 2005 levels by 2020 and 83% below by 2050. In the end, the vote of 219 to 212 included more than 40 Democrats who broke ranks with their party's leadership to vote against the bill. Republicans savaged the bill as an economy-killing energy tax - one member even called for a moment of silence for the Americans who would lose their jobs because of the bill - and some left-wing environmental groups, including Greenpeace, withdrew their support because they believed the bill's compromises made it far too weak. (See TIME's photos of ways...
...bill's opponents - Congressional Republicans, along with the oil industry and the National Association of Manufacturers, among others - say cap and trade amounts to a massive tax on U.S. energy, which mostly still comes from carbon-intensive fossil fuels like coal. That's partially true - the whole point behind cap and trade is to raise the cost of emitting carbon and drive investment in energy efficiency and renewable power. "No matter how you doctor it or tailor it, it is a tax," said Representative Joe Pitts, a Pennsylvania Republican...
...authors of that study, who said the true impact would be more like $800 a year. The Congressional Budget Office, giving a boost to Democrats, last week said the program would cost the average family $175 in 2020. Whatever the expense, Republicans are labeling the bill as a carbon tax that - on top of the stimulus and the push for health-care reform - America's families can ill afford. "Nancy Pelosi's having a tough time getting the votes for that bill," Representative Eric Cantor, the No. 2 House Republican, said Wednesday on Fox News. "Simply because, I think...
...Prime Minister Manmohan Singh has asked officials to monitor the situation closely, and the relevant ministries and state governments are preparing contingency plans, including distributing drought-resistant seeds, encouraging farmers to grow crops that require less water, and even implementing cloud seeding programs to bring on rains. Experts expect tax breaks and price supports in the budget to be announced early next month. Roy of FICCI says the worst may yet be averted. "Last year the agricultural season was good and procurement was higher than normal," he says, "But the government can start taking preparatory steps such as imports...
...truant monsoon will jolt India's bureaucracy into action to implement much-needed and long-delayed agricultural reforms, as well as improve India's water resources management. Steps should be initiated to link the farmers to the market and improve farm and post-harvest infrastructure, and provide a favorable tax regime for the agriculture and related sectors. The wasteful subsidy regime also needs to be overhauled. Fertilizer subsidies mostly benefit rich farmers and lead to gross overuse. "Subsidized electricity for farmers encourages excessive use, both of electricity and groundwater. And because it is mostly generated from coal, it results...