First proposal for federal climate regulations

Members of the House of Representatives have introduced the first federal bill that would attempt to regulate climate change by placing limits on carbon release, ensuring that 25 percent of the nation’s energy comes from renewable sources and reducing the nation’s greenhouse gas emissions by 80 percent by the year 2050.

While the Obama administration is weighing whether to use the Clean Air Act to regulate emissions, House Democrats would prefer an independent legislative route that includes a system for promoting a cap-and trade system for carbon.

The bill, introduced by Democrats Henry A. Waxman (Calif.) and Edward J. Markey (Mass.), also includes incentives for businesses.  According to The Washington Post:

“The measure also would provide incentives for industries that will be hit the hardest by a limit on emissions, including a $10 billion fund to promote carbon capture and storage technology and a provision that would reward carbon-intensive manufacturers that face global competition if they operate more efficiently than their overseas counterparts.”

But House  Minority Leader John A. Boehner (R-Ohio) thinks that with the current recession, strict emissions regulations would force American manufacturers to move overseas to remain competitive., saying in a statement that this bill is “the wrong thing to do and the worst possible time to do it.”

The bill, being called a “discussion draft” in the House, is considered to lack the votes to pass in the Senate.