Cap n Tax overhaul

You can say what you want about Washington just not getting it over healthcare. But we might be starting to see a change in some of the old guard. This may not be true but the idea a supermajority is the way to hammer things through congress is just bad politics for reelection. We heard the rumblings that three key senators are writing a new climate bill which is different than cap’n’tax or as it called cap’n’trade. This is a new bill that aims to reduce carbon pollution and is being planned to roll out next month, the sponsors are Senator John Kerry, Lindsey Graham, and Joe Lieberman. We love this idea because like healthcare the cap-and-trade bill that passed the House almost a year ago remains President Barack Obama’s preferred approach as he pushes to cut the country’s emissions by 17 percent by 2020 to meet internationally agreed upon goals. We could file under President Obama you can’t always get what you want or you may never get anything you want. Lindsey Graham has been quoted saying that cap-and-trade is dead and this new approach will have a chance. The three major emission sources: electric utilities, transportation and industry would have to meet an overall emissions cap that would grow stricter over time. A carbon tax could be levied on motor fuel. And industrial facilities would be exempted from an emissions cap for several years, before it would be phased in. This is a step that if Washington wants to get anything done listening to the American outrage is starting to be heard. We are not sure if it is the fact the politicians are scared to lose their job or care what constitutes say, but either way America wins.

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