From AAIA Capital Report

Sen. Barbara Boxer (D-Calif.), chair, Senate Environment and Public Works Committee, released her version of legislation directed at reducing emissions of greenhouse gases. Similar to legislation that was passed by the House of Representatives, the bill would rely on a cap and trade policy to reduce emissions of greenhouse gases by 83 percent between 2005 and 2050. In the shorter term, Boxer's draft is more ambitious than its House counterpart, pushing for a 20 percent decrease by 2020, while the House version would require a 17 percent decrease. The bill also differs from the House version by permitting EPA to use the Clean Air Act new source review provision to regulate greenhouse gas emissions at coal-fired power plants, perhaps setting up a battle with Midwestern Senators. 

While Boxer hopes to have the bill considered by her committee by the week of Oct. 26, floor consideration may be significantly delayed due to an expected lengthy debate over health care reform that may last most of the fall. Both proponents and opponents of Boxer's draft expect that her greenhouse gas legislation will be approved by the committee. However, obtaining the 60 votes to get the bill out of the Senate is far from assured. 

A copy of the draft bill can be viewed by clicking here.