Climate Bill Introduced in U.S. House

In what is likely to be a series of competing bills designed to address climate change, two senior Democrats in the U.S. House today unveiled legislation aimed at reducing greenhouse gas emissions and increasing the use of alternative energy. The bill, called the American Clean Air and Security Act, was co-written by Representatives Henry A. Waxman of California and Edward J. Markey of Massachusetts.

The bill's key provisions include a requirement that emissions be reduced 20 percent from 2005 levels by 2020 and by roughly 80 percent by 2050. The bill would also require every region of the country to produce a quarter of its electricity from renewable sources by 2025. Of particular interest to coal-rich states such as North Dakota is a provision for $10 billion in new financing for technology to capture and store carbon dioxide emissions produced by coal-fired electricity plants.

The bill does not address the sticky issues relating to the Obama administration's cap-and-trade plan such as how pollution allowances would be distributed and how the revenue generated from those allowances would be used.