From the press release:
"The document released today spells out a mandatory, market-based cap-and-trade program that would cover 80 percent of US greenhouse gas emissions and that would reduce those emissions to current levels by 2012, to 10 percent below current levels by 2020, and to 70 percent below current levels by 2050. The document describes a robust set of measures to sustain US economic growth, protect American jobs, and ensure international participation in emissions reductions."
Their proposal sets the Administrator of the EPA up as the national Gas Czar, delegating that congressional role. The interesting stuff starts on page seven of the seventeen page PDF.
Senator Boxer, Chair of the EPW committee said:
“The Lieberman Warner bill will be the fifth economy-wide Senate proposal, and in addition, there are several sector-by-sector proposals, demonstrating that an increasing number of U.S. Senators want to address this issue now.”
“When I took the gavel of the Environment and Public Works Committee, I pledged to focus on global warming and on bringing bipartisanship back to the committee. With the Lieberman-Warner bipartisan proposal, those goals have been met, and we now plan to pass legislation through the committee before the end of the year. This proposal has taken good ideas from a variety of bills, and will be an excellent starting point for the committee.”
Senator Inhofe, Ranking member titled his comments:
LIEBERMAN-WARNER CLIMATE BILL FAILS SENATE TEST
And went on to say:
...CO2 cap-and-trade schemes were exposed by a recent CBO study as creating massive wealth redistribution from the poor and working class to wealthier Americans. Further, according to a MIT study released earlier this year, cap-and-trade legislation introduced earlier in the Senate this year by Senator Bernie Sanders (I-VT) and Senator Boxer (D-CA) would cost energy sector consumers an amount equal to $4,500 per American family of four. The same study found a bill sponsored by Senator Lieberman and Senator McCain (R-AZ) would cost consumers $3,500 per family of four. And a new EPA analysis shows the Lieberman – McCain bill would cost up to half a trillion dollars by 2030 and $1.3 trillion by 2050 – and that was based on assumptions designed to low-ball the number, begging the question of how high the real figure would be.
I get a kick out of the EPW homepage.
The Democrat blog button (on the left) says
"Act Now to Stop Global Warming".
The Republican blog button (on the right) says
"ENTER the MINORITY BLOG".
And that boys and girls is how you win in politics