Title
WHEREAS, Representative Henry Waxman, U.S. Representative of the 30th District of California, introduced the Safe Climate Act of 2007 (HR 1590); and
WHEREAS, the United States Senate is currently considering the corresponding Senate Bill, S.B. 309; and
WHEREAS, the Intergovernmental Panel on Climate Change (IPCC) declared in February 2007 that "Most of the observed increase in globally averaged temperatures since the mid-20th century is very likely due to the observed increase in anthropogenic greenhouse gas emissions"; and
WHEREAS, of climate change proposals introduced into the current 110th Congress, only Rep. Waxman's Safe Climate Act is projected by the non-partisan World Resources Institute to stabilize carbon dioxide emissions in the safe range of 450-550 parts per million; and
WHEREAS, the Safe Climate Act will be implemented by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE); and
WHEREAS, under this bill, the level of emissions is frozen in 2010 and then gradually reduced each year through 2050; and
WHEREAS, the bill achieves these targets through a flexible economy-wide cap-and-trade program for greenhouse gas emissions, along with measures to advance technology and reduce emissions through renewable energy, energy efficiency and cleaner cars; and
WHEREAS, the bill directs the EPA to set a cap on greenhouse gas emissions from the largest polluters and allow the polluters to meet the cap by buying and selling emissions allowances; and
WHEREAS, proceeds from the auctioning allowances are deposited in the "Climate Reinvestment Fund"; and
WHEREAS, revenues in the fund are dedicated to maximizing public benefit and promoting economic growth, including supporting technology research and development, compensating consumers for any energy cost increases, providing transition assistance for affected workers and regions and protecting against harm from climate change.
NOW, THEREFORE, BE...
Click here for full text