Our Take

House Passes Cap and Trade Legislation

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June 25, 2009
Programs: Energy

Today, the House took an historic step towards addressing climate change by passing The American Clean Energy and Security Act of 2009. We are concerned, however, that many provisions in this bill provide generous handouts to already subsidized mature energy industries while others could lead to fiscal abuse down the road. The battle is far from over. As climate change legislation moves through Senate and conference negotiations, the final bill must include strong accountability measures and transparency mechanisms. Furthermore, any transition assistance must be temporary, and heavily subsidized industries that rely on high-cost, high-risk technologies of the past must not be rewarded.

Filed under: Avoid Unnecessary Liabilities, Ensure Fair Returns

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