Cap-and-Trade Bill in Congress Quickly Gaining Momentum

Manatt, Phelps & Phillips, LLP

This week, the U.S. House of Representatives Committee on Energy and Commerce is marking up “The American Clean Energy and Security Act” (H.R. 2454), introduced by Representatives Henry Waxman (D-CA) and Ed Markey (D-MA). The bill proposes to create a cap-and-trade system aimed at reducing greenhouse gas (“GHG”) emissions from electricity providers and large industrial sources that emit over 25,000 tons of GHGs annually.

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