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Investing in a Green Economy: Using Cap-and-Trade Auction Revenue to Help American Families and Spur Clean Energy Innovation

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Abstract:

The U.S. Senate will soon begin debate on a bipartisan bill to cap and reduce greenhouse gas emissions economy-wide. The Climate Security Act, S. 3036, sponsored by Senators Barbara Boxer (D-CA), Joe Lieberman (I-CT), and John Warner (R-VA), is the most comprehensive piece of climate change legislation with the potential for Senate passage. This is a watershed moment, and a sign of our nation’s growing commitment and willingness to address the critical threat of global warming. Regardless of its fate in 2008, the Lieberman-Warner bill will help frame the legislative debate around “cap-and-trade” global warming proposals, and lay a foundation for any future legislation to reduce our nation’s greenhouse gas emissions.