The 600-page draft House bill on energy and climate aims to tackle a myriad of challenges, including the establishment of a U.S. plan to cap and reduce greenhouse-gas emissions. The cap-and-trade part of the bill promises to be the most contentious.
The draft bill, sponsored by Democrats Henry Waxman and Ed Markey, aims to cut U.S. greenhouse-gas emissions by 83% compared to 2005 levels by 2050. That’s the same target President Obama has, but the House bill sets more aggressive short-term targets, such as a 20% reduction by 2020 and a 42% cut by 2030.
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