Senate to decide on new emissions bill
Senate on Monday is to debate a Democratic-backed bill to dramatically cut harmful greenhouse gas emissions by 2050.The bill uses a “cap-and-trade” system wherein the government would cap the amount of pollution a company is allowed to emit — which would be lowered each year — but would also give companies some flexibility by allowing them to buy pollution credits from companies whose emissions fall below their caps. Under the bill, the government would auction off the credits and use some of the proceeds to help consumers who are expected get hit by higher energy costs. The defense thinks these higher temperatures are going to cause terrible problems all over the world — more extreme weather events, vectors that we haven’t seen before. The military people say that it’s going to be a cause of wars in the future. But many Republicans say the bill’s costs are too high. Speaking at a White House event Monday, President Bush warned the additional costs associated with the bill, which he estimated at $6 trillion, would be too much of a burden on the American economy.
“There is a much better way to address the environment than imposing these costs on job creators.” However there was no mention as to what this better system was. Republicans say they will later block the bill’s passage because they are concerned it would increase energy costs and damage the U.S. economy, according to lawmakers and aides from both parties.