Via Memeorandum, this WSJ piece:
House Speaker Nancy Pelosi has scheduled a vote Friday on a sprawling climate-change bill, signaling the Democratic leadership’s confidence that it can overcome objections from Farm Belt Democrats.
Opponents and supporters of landmark climate legislation are ramping up their public-relations campaigns ahead of the planned vote. The Obama administration is pushing the measure as a job-creator, while critics, including many Republicans, are portraying the bill as an energy tax that could slow the economy.
The legislation, co-sponsored by House Energy and Commerce Committee Chairman Henry A. Waxman (D., Calif.) and Rep. Edward Markey (D., Mass.), had stalled last week because of opposition from Farm Belt Democrats concerned their states will face heavier costs under the proposed law to curb greenhouse-gas emissions.
Discussions were still continuing Tuesday. Josh Syrjamaki, chief of staff for one of those Democrats, Minnesota Rep. Timothy Walz, said his boss hadn’t yet given his support for the bill because he hadn’t yet seen details of a deal.
Drew Hammill, a spokesman for Ms. Pelosi, said in an email late Monday evening: “There are some issues still under discussion, but we are confident we can resolve them by the time the bill goes to the floor on Friday.”
The bill aims to cap greenhouse-gas emissions at 17% of 2005 levels by 2020 and at roughly 80% by 2050, creating a market for companies to buy and sell the right to emit carbon dioxide and other gases. It also mandates a new renewable electricity standard and establishes new national building codes.
I’m sure Tim F. will have more to say about this, as this is one of his major issues, but reading this, I’m reminded of a quip made by Bill Maher that this really should be the Republican position- setting up a market for buying and trading emission rights.