The House climate change bill looks like it will be moving soon. The House Rules Committee has announced the next steps for a bill that could go to the floor possible as soon as this weekend. The Committee set a deadline of Thursday morning for the submission of proposed amendments. The Committee also released the text of the bill - the American Clean Energy and Security Act of 2009 - that will be considered.
There is a lot in the 1201 page bill that is worth of commentary -- such as the provision requiring a report to Congress (and the media) as to whether India and China have standards as strict as the US, the new energy efficiency standards, the creation of yet another narrow worker adjustment assistance program, the provisions to promote exports of clean energy technologies and protect intellectual property rights, and the actual set up of the emissions rights auctions. Already many of my friends are scrambling to digest the bill's contents. I will wait for their analysis of what is in and what is out and who is up and who is down.
However, I want to draw attention to just one provision. Section 124(d) creates a domestic manufacturing incentive program similar to the provision in the stimulus bill I mentioned earlier. The difference being that the climate change bill uses emission allowances to pay for up to 30% of the cost of the manufacturing facility.
Maybe with such actions we won't end up losing our green technology industries.
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