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Dec. 11 - New Senate Climate Change Bill Is Superior Starting Point

Statement of Tyson Slocum, Director, Public Citizen’s Energy Program

Today’s introduction of the bipartisan CLEAR (Carbon Limits and Energy for America’s Renewal) Act by Sens. Maria Cantwell (D-Wash.) and Susan Collins (R-Maine) offers a needed new direction in America’s debate on addressing climate change. While the legislation is far from perfect, it offers a superior starting point than competing bills that passed the House of Representatives and the Senate Environment & Public Works Committee, and the proposed legislative framework offered by Lieberman-Kerry-Graham. Importantly, the legislation echoes President Obama’s call, made most recently in his mid-session budget submitted to Congress in August, that polluters should pay through a 100 percent auction of emission allowances. This is in stark contrast to competing proposals, which give away nearly all such allowances for free. Additionally, the CLEAR Act would significantly limit the creation and operation of a secondary derivative trading market, thereby curtailing the ability of Wall Street to profit and speculate.

Read full statement, here. 

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