Waxman-Markey Bill Passes Committee; Baseline, Other Details Concern Industry

Legislation for a mandatory greenhouse gas (GHG) cap-and-trade program cleared the House Energy and Commerce Committee last night, 33-25, with all but one of the committee's Republicans voting against the bill. The American Clean Energy and Security Act—sponsored representatives Henry Waxman (D., CA), the committee’s chairman, and Edward Markey (D., MA)—would require 17% GHG emission reductions by 2020, and 83% by 2050. Waxman gained the support from Democrats who represent states with significant coal industry interests by agreeing to give...

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