The Center on Budget and Policy Priorities (CBPP, at http://www.cbpp.org) asks, “Does the ‘cap-and-trade’ bill (H.R. 2454, the American Clean Energy and Security Act of 2009, at http://www.govtrack.us/congress/bill.xpd?bill=h111-2454) passed out of the House of Representatives in June do enough to protect consumers, or is it too riddled with give-aways to corporate America to be worth enacting?” The Center on Tax Justice (http://www.ctj.org) says the question of how much the legislation does to protect consumers is a complicated one, but two things are certain. First, if this Congress fails to enact climate change legislation (even imperfect legislation) the consequences could be terrible. Second, when the Senate takes up climate change in September, it will have an opportunity to significantly improve the legislation, as explained by recent reports from the Center on Budget and Policy Priorities.
To read more about CBPP’s analysis and recommendations, go to http://www.ctj.org/taxjusticedigest/archive/2009/07/recent-cbpp-reports-explain-ho.php.