A new climate bill proposal with bi-partisan and moderate-Democrat support changes a few critical features from previous proposals, but it still seems to keep to the aim. Supposedly, the (Cantwell-Collins) bill would achieve a 20% reduction in greenhouse gases by 2020 and an 83% reduction by 2050.
Not only that, but it would also give a monthly refund of about $100 to a family of four, refunding approximately 75% of all revenue to US residents.
There are criticisms of the bill, of course, such as that it may take a long time for emissions reductions to start up and may not generate significant investment in clean tech.
However, given the political fatigue in Congress after the healthcare bill, a simple (currently 39 pages), widely supported bill that gives money back to the residents, may be just the thing we need if anything is going to get passed this year.
Additionally, this proposed bill does NOT include a carbon offset program, a key point of criticism for environmentalists opposed to cap and trade. So, it may be able to pull a large portion of the environmentalist contingent who are against cap and trade.
Is this the bill we have been waiting for?
For a more in-depth discussion of this proposed bill, take yourself over to ecopolitology.
via ecopolitology and Care2
1) Reducing CO2: ‘Cap and Trade’ or ‘Fee and Dividend’?
2) CBO Scores Senate Climate Bill – Will Save $21 Billion in First 10 Years
3) Senate Climate Bill Goes After Only 2% of American Businesses
Image Credit: Fanboy30 via flickr under a Creative Commons license
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