Democrats working out cap-and-trade permits

04/26/2009 | Wall Street Journal, The

Rep. Henry Waxman, D-Calif., chairman of the House Energy and Commerce Committee, said he is willing to compromise on some details of his cap-and-trade legislation, which seeks to cut U.S. carbon output by up to 80% in the coming decades. In response to concerns from lawmakers from coal and oil states, Democrats are negotiating a proposal to give companies some carbon permits for free to ease them into the system. A subcommittee vote is planned for today.

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