READ the House Bill
In a surprise switch, House Democrats have now decided that they will force a vote this week on a major energy bill - what's known as the cap-and-trade legislation. Late on Monday night, backers submitted the revised bill to the House Rules Committee, which posted the 1,201 page behemoth on the internet.
Please take a minute to leaf through it and find out what's stuffed in all those pages at http://www.rules.house.gov/111/LegText/111_hr2454_sub.pdf
This move certainly spices up the last few days of this Congressional work period, as Democrats seem ready to roll the dice on the energy issue.
For months, Republicans have savaged Democrats on the plan, which would allow heavy industry to trade permits for emitting greenhouse gas and other pollutants.
Those permits would be a way to raise money for the federal government, basically penalizing industries that decide not to switch to new technologies to cut down on climate change emissions.
GOP lawmakers have repeatedly charged that the move will result in a huge "tax" on Americans, because the energy industry (utilities) will simply pass the cost of the cap and trade system on to consumers.
But in recent days, Democrats got a gift from the Congressional Budget Office - the same outfit that made their blood run cold with $1 trillion and more cost estimates on health care reform.
On cap and trade, the CBO reported that by 2020, the program would cost consumers $175 per year.
You can read that CBO review at http://www.cbo.gov/doc.cfm?index=10327
As of right now, I wouldn't put my money on the Democrats to win this vote - but that CBO cost estimate certainly makes it easier for Speaker Pelosi to argue to her flock that it's a vote they can make and not feel like they are walking the plank.
Stay tuned. This will be an interesting battle in coming days.
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