Chairman Waxman Expected to Release Draft Climate Legislation
Tomorrow will mark an important step forward for U.S. climate legislation, when House Energy and Commerce Chairman Henry Waxman (D-CA) and Energy & Environment Subcommittee Chairman Ed Markey (D-MA) will release a draft bill. The bill is expected to call for a cap-and-trade system that caps emissions 80 percent below 2005 levels by 2050, as well as a national renewable electricity standard (RES) and energy efficiency standard (EES). Last month, Waxman told reporters that his work in the House could serve as a model for the Senate.
In a letter sent to President Obama on Friday, Waxman and Markey joined with former full committee Chairman John Dingell (D-MI) and former subcommittee Chairman Rich Boucher (D-VA) noting the diversity of their districts. But, they wrote, "our districts - and the entire nation - urgently need comprehensive energy legislation that provides a pathway to private sector energy investments, energy independence, and a safe climate." The letter said that using the budget reconciliation process for energy and climate legislation "could arouse regional distrust" that would make reaching an agreement harder. In a primetime news conference last Wednesday, President Obama said the White House was focused on passing cap-and-trade legislation through regular order. "My expectation is that energy committees, or relevant other committees, in both the House and the Senate, are going to be moving forward a strong energy package," said Obama. "It'll be authorized. We'll get it done, and I'll sign it."
Last week, House Way and Means Committee Chairman Charles Rangel (D-NY) said that he expects to have a role in the revenue components of a climate and energy package. House Speaker Nancy Pelosi plans to bring together committee chairmen to bridge differences and map out a climate change legislative strategy. Waxman and Markey plan to hold a committee vote on the bill by Memorial Day. Rangel told reporters last week that he expects climate legislation to move sooner than healthcare. Read more at E&E (sub. req'd)
