Waxman-Markey "cap-n-trade" vote nears in US
The House could vote today on a measure to cap U.S. greenhouse gas emissions, with Democratic leaders predicting a tight victory for a behemoth bill that has grown more complex with each compromise.
The heart of the bill, which now runs to 1,201 pages, is a plan to reduce emissions to 17 percent below 2005 levels by 2020. To do that, it would create a cap-and-trade system, in which polluters would be required to accrue buyable, sellable credits for all the greenhouse gases they produce.
Republicans and some business interests have said the bill would add huge new costs and drive jobs to countries where emissions are still unregulated and free. The GOP byword for the bill has been "cap and tax."
Sounds about right…
Read it here.