Draft Climate Bill To Be Released This Month, Says Waxman

A draft climate bill could be shared with the House Energy and Commerce committee later this month, announced Chairman Henry Waxman (D-CA) last week. Waxman and Ed Markey, Chairman of the House Energy and Environment Subcommittee, confirmed that their staff have started drafting a bill that includes a national renewable electricity standard and cap-and-trade program with mandatory limits on greenhouse gas emissions. Markey said they hope the legislation will be ready for mark up in May. As part of his fiscal 2010 budget proposal, Obama outlined key details he wants global warming legislation to include, such as emission targets that cut U.S. greenhouse gas levels 14 percent from 2005 levels by 2020 (equates to 1990 levels by 2020) and 83 percent below 2005 levels by 2050 (equates to 69 percent cut from 1990 levels by 2020). Waxman said he would follow the president's leadership, but showed interest in pushing for more aggressive 2020 and 2050 emission targets.

Bill Wicker, spokesman for Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-NM), said that Reid's plans do not change Bingaman's strategy of pushing a broad-based energy bill through committee before Easter recess. What happens after the committee is "the prerogative of the [Senate Majority] leader," said Wicker. Read more at E&E (sub. req'd)