House Passes Climate Bill

Business News & Financial News (Jun 29 2009) Cap and Trade , Carbon Tax , Emissions

1. Landmark legislation to curb U.S. greenhouse-gas emissions was approved by the House of Representatives in a close vote late Friday, securing an initial victory for a cornerstone of President Barack Obama's agenda. The 1,200 page bill -- formally known as the "American Clean Energy and Security Act" -- will reach into almost every corner of the U.S. economy. By putting a price on emissions of greenhouse gases, such as carbon dioxide, the bill would affect the way electricity is generated, how homes and offices are designed, how foreign trade is conducted and how much Americans pay to drive cars or to heat their homes. The House climate bill, approved by a 219-212 vote Friday evening, would mandate that 15% of the nation's electricity come from renewable sources such as wind and solar power by 2020, potentially expanding the market and profit potential for companies in those sectors ... (Read Full Article)

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