Highlight of the Week: Latest Version of Energy Legislation Most Ambitious Yet
Senate Environment and Public Works Committee Chairman Barbara Boxer (D-Calif.) unveiled a newer, more ambitious version of climate and energy legislation that calls for reducing U.S. carbon pollution, promoting energy independence, and transitioning to a clean energy economy.
The proposal, cosponsored by Foreign Relations Committee Chair Sen. John F. Kerry (D-Mass.), builds on the House-passed American Clean Energy and Security Act, adding provisions that will further decrease U.S. production of harmful heat-trapping gases.
Among other new content in the 'Chairman's Mark' are provisions that ensure the majority of the bill's investments go to consumer protection, an increase in investments for energy efficiency and renewable energy, and a framework for the distribution of emissions allowances.
While the new carbon targets are more ambitious than those laid out in the House bill, they are projected to be easy on American pocketbooks: an Environmental Protection Agency analysis of the latest plan says it would cost the typical household about $100 per year, about the same as previous estimates.
The Environment and Public Works Committee opens debate on the bill this week.