Rep. Waxman and Rep. Markey Release Draft Comprehensive Energy and Economic Embargo Bill
ShareThisMarch 31, 2009· 1 Comment
Rep. Waxman and Rep. Markey have released their 650-page discussion draft of their energy regulation and global warming bill, “The American Clean Energy and Security Act of 2009.”
Their summary is available here.
The full bill text is available here.
The legislation has four titles:
Title 1–”Clean Energy” – Includes a renewable electricity mandate which requires 6% of electricity come from renewable fuels by 2012, and 25% by 2025. This title also includes incentives for carbon capture and storage, a low carbon fuel mandate, additional taxes on electricity generated from fossil fuels, and requirements that utilities plan for smart grid and electrical vehicle recharging.
Title 2–”Energy Efficiency” – Mandates higher energy efficiency standards for buildings, lighting, and appliances. Also encourages efficiency by utilities and by industry.
Title 3–”Reducing Global Warming Pollution” – Mandates the reduction of carbon dioxide emissions by 20% below 2005 by 2020, 40% below 2005 by 2030, and 83% below 2005 by 2050. The title include a cap and trade energy tax program, but does not specify important aspects of the program yet.
Title 4–”Transitioning to a Clean Energy Economy” – Authorizes programs to try to redistribute taxes from cap and trade program to lessen the harmful economic impacts of cap and trade.
April 8th, 2009 at 6:59 am
I think the American Clean Energy and Security Act of 2009 is a potentially landmark first step to usher America into a powerful clean energy economy that will create millions of jobs for American workers, save consumers and businesses hundreds of billions of dollars in energy costs, make our country energy independent, and limit global warming pollution. While very comprehensive, the bill, as presently written, still have areas that need further improvements to meet science-based goals to combat the threat of global warming in the immediate future. We must also ensure that workers in older industries that are highly reliant on carbon based energy – and the communities in which they’re concentrated – are provided with the assistance and tools necessary to make the transition to the clean energy economy. I ask Congress to continue to work to strengthen these provisions before it is voted on.