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Posted Tue Apr 7 2009: from US News and World Report:
Five Hot Spots in Congress's Upcoming Climate Change Debate
When Rep. Henry Waxman of California and Rep. Ed Markey of Massachusetts released a draft of a much-anticipated global warming bill last week, it effectively marked the start of this year's debate over regulating greenhouse gas emissions . But even with a Democratic majority in Congress and a sympathetic Obama administration, it's going to be a long, tough fight. The debate centers on a proposal to create a cap-and-trade program, which, if passed, would set national limits on greenhouse gas emissions and require big polluters to get credits, or permits, for their emissions, which could then be traded between cleaner and dirtier companies. Among the questions that remain to be answered: how to design a cap-and-trade program that not only works but also protects average Americans from potentially higher energy costs and how to spend the hundreds of billions of dollars the program is expected to raise.
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