Major differences begin to emerge between the Senate and House versions of cap-and-trade legislation. Due to more stringent budget requirements – known as the “CBO haircut” – in the Senate, the Kerry-Boxer bill is forced to dole out emissions allowances from a smaller pie. A difference that Boxer didn’t highlight when the 923-page draft bill was released late last Friday, but that is becoming apparent to those vying for a piece of the pie.
Sources and further reading:
New York Times/E&E News (subscription)
Grist – How CBO budget scoring devalues efficiency… with PUPPIES!
Reported by Energy and Environment senior correspondent Darren Samuelsohn, podcast by GWIR editor Tom Schueneman