Act Overview
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Global Warming Pollution Reduction Act |
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| Bill Number | S. 309 |
| Cosponsors | Sens. Bernie Sanders (I-Vt.), Barbara Boxer (D-Calif.), Daniel Akaka (D-Hawaii), Russell Feingold (D-Wis.), Daniel Inouye (D-Hawaii), Edward Kennedy (D-Mass.), Frank Lautenberg (D-N.J.), Patrick Leahy (D-Vt.), Robert Menendez (D-N.J.), Jack Reed (D-R.I.), Sheldon Whitehouse (D-R.I.), Joe Biden (D-Del.), Ben Cardin (D-Md.), Bob Casey (D-Pa.), Hillary Rodham Clinton (D-N.Y.), Dick Durbin (D-Ill.), Amy Klobuchar (D-Minn.), Barbara Mikulski (D-Md.), and Barack Obama (D-Ill.) |
| Overview | This climate change bill would be a new title to the Clean Air Act. It would have the most sweeping effect of any piece of global warming legislation, with multiple programs designed to curb "dangerous interference" with the Earth's climate. Sets a global goal to keep average temperatures from rising no more than 3.6 degrees Fahrenheit by stabilizing global concentrations of CO2 at 450 parts per million. |
| Regulated Industries | Economy-wide, most major sectors of U.S. economy, including power plants and transportation. |
| Limits | The bill first sets broad emission goals, with cuts of 2 percent each year between 2010-2020. Then a 27 percent cut below 1990 levels by 2030, and 53 percent below 1990 levels by 2040. Cuts emissions 80 percent below 1990 levels by 2050. New power plants that start operating after 2012 must meet strict emission limits, equal to a natural gas combined cycle unit. Sets up a renewable portfolio standard of 5 percent by 2008, 10 percent by 2010, 15 percent by 2015 and 20 percent by 2020. It establishes a global warming regulation for new automobiles of all sizes equal to current standards in California. Mandates major increase in renewable content for fuels. Establishes energy efficiency targets. |
| Key Support Groups | Earth Day Network, Earthjustice, Environmental & Energy Study Institute, Friends of the Earth, Greenpeace, League of Conservation Voters, National Audubon Society, National Environmental Trust, Natural Resources Defense Council, Physicians for Social Responsibility, Public Citizen, Sierra Club, Union of Concerned Scientists, U.S. PIRG. |
| Auction and allowance allocations | Decided by U.S. EPA. Cap-and-trade permitted, but there is no requirement. Allocations would include transition help for consumers, businesses. |
| Offsets | Silent. |
| Cost control and flexibility | Up to the U.S. EPA, president. |
| Extras | Sets up new carbon sequestration programs, including grants to demonstrate effectiveness in five regions of the country. Puts United States back into international global warming negotiations. Requires report on trade, economic and technological barriers if the United States does not adopt measures to cut its emissions. Mandates climate change consideration in all federal environmental impact statements. Calls for new Securities and Exchange Commission rules for reporting on financial exposure from global warming. |
Read more about this topic: Global Warming Pollution Reduction Act Of 2007
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