On June 26, a 1,427-page climate change bill introduced by Representatives Henry Waxman (D-CA) and Edward Markey (D-MA) passed the House by a narrow margin. The bill, also known as Waxman-Markey, includes a number of alarming provisions, chief among them a cap-and-trade program that would attempt to curb global warming by imposing strict upper limits on the emission of six greenhouse gases, with the primary emphasis on carbon dioxide (CO2).
The CBO analysis of Waxman-Markey fails to take into account all the adverse effects that will ripple through the U.S. economy if cap and trade becomes law.
The Waxman-Markey energy bill, which would restrict greenhouse gasemissions by creating a cap-and-trade system, was passed by theHouse in June and will likely be considered by the Senate soon.
On June 26, a 1,427-page climate change bill introduced by Representatives Henry Waxman (D-CA) and Edward Markey (D-MA) passed the House by a narrow margin. The bill, also known as Waxman-Markey, includes a number of alarming provisions, chief among them a cap-and-trade program that would attempt to curb global warming by imposing strict upper limits on the emission of six greenhouse gases, with the primary emphasis on carbon dioxide (CO2).