No More Cap and Trade

No More Cap and Trade

Senators Kerry, Graham and Lieberman propose different approaches for different sectors.

At least for the Senate architects of compromise climate legislation - the cap and trade label is falling by the wayside. Congressional Quarterly reports Senator John Kerry, D-Mass., is now referring to the plan for addressing greenhouse gas emissions as reduction and refund. This new approach would address emissions by the utilities, manufacturing and transportation sectors differently rather than capping nationwide emissions and allowing emitters to trade allowances.

The three Senators working on this measure - Kerry, Lindsey Graham, R-S.C., and Joe Lieberman, I-Conn., - have had many meetings with colleagues, industry groups and environmental organizations to sell their new approach and solicit fresh ideas and input.

The team's goal is putting a climate bill together that can garner the support of at least 60 senators. They plan to release their bill next month.

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