Earth Equity News

Climate Change Bills Proliferate in Congress. ENS, May 30, 2007. "Congress will consider climate change legislation in a variety of forms next week when legislators return to Washington. Both House and Senate have bills to work with and changes to measures previously introduced... Congressman Edward Markey's [D, Mass.] bill caps pollution at 85 percent below 2005 levels by 2050. It then establishes an auction system that sets a price on carbon dioxide, CO2, emissions, and allows companies to compete for reductions, or buy or trade credits within the system. The measure takes $8 trillion in revenues that Markey expects polluters will pay to emit greenhouse gases over the length of the bill, and reinvests that money back to American families and workers and into promoting a clean energy economy... The Boxer Substitute Amendment to the Lieberman-Warner Climate Security Act allows a declining amount of greenhouse gas emissions between 2012 and 2050, reducing them by about two percent per year from 2005 levels. The amendment would reduce emissions from covered facilities 19 percent below current levels by 2020, and 71 percent by 2050... The amendment sets aside a nearly $800 billion tax relief fund through 2050, which will help consumers in need of assistance related to energy costs."