Congress is moving to draft legislation that would cap carbon dioxide emissions and create a carbon allowance trading program to help emitting industries comply.
House Energy and Commerce Committee Chairman Henry Waxman (D-Calif.) says he plans to complete a bill by Memorial Day with targets and deadlines for emission reductions. The bill could include energy-efficiency standards and require utilities to generate a specific portion of power with renewable energy sources. A House floor vote could come later this year.
In the Senate, Environment and Public Works Committee Chair Barbara Boxer (D-Calif.) says she wants to take a deliberative approach to such legislation. “The idea is not to rush a bill, but to have a strategy to get this done,” she says.