Us Senate Committee On Environment And Public Works: Press Release

US Senate Committee on Environment and Public Works: Press Release

EPA Economic Analysis Finds No Significant Increase in Cost to American Families, Compared to Waxman-Markey Legislation October 23, 2009

Washington, DC - U.S. Senator Barbara Boxer (D-CA), Chairman of the Senate Committee on Environment and Public Works, today released the text of the Chairman's Mark of the Clean Energy Jobs and American Power Act (S. 1733). Senator Boxer said, "We've reached another milestone as we move to a clean energy future, creating millions of jobs and protecting our children from dangerous pollution. I look forward to the hearings and the markup as we move ahead to the next step." New and revised language in the Chairman's Mark released today: • Specifies distribution of emissions allowances; • Ensures that the majority of investments in the bill are for consumer protection; • Includes new provisions to address clean coal technology; • Increases investments in energy efficiency and renewable energy; • Reduces greenhouse gas emissions and increases investments in the transportation sector; • Enhances agriculture and forestry provisions; • Directs assistance to rural communities; • Includes greater assistance for small and medium refineries; • Enhances the role of tribes; • Increases the size of the market stability reserve; and • Promotes advanced renewable fuels. The Environmental Protection Agency (EPA) also released a detailed economic analysis of The Clean Energy Jobs and American Power Act that found no significant change in the estimated cost to American families, compared with H.R. 2454, the Waxman-Markey legislation passed this summer by the House of Representatives. EPA's analysis of the House bill found that "average household consumption would be reduced by less than 1% in all years" compared with a business-as-usual scenario, and estimated the overall impact on the average household would be 22 to 30 cents per day ($80 to $111 per year). On Tuesday, October 27, the Environment and Public Works Committee will start comprehensive legislative hearings on the Clean Energy Jobs and American Power Act. Senators will hear testimony from nine panels totaling 54 witnesses over the course of three days. Senator Boxer has indicated that the EPW Committee will mark up the legislation as soon as possible following the completion of legislative hearings. LINK TO EPA ANALYSIS: http://www.epa.gov/climatechange/economics/economicanalyses.html#cleanenergy

http://epw.senate.gov/public/index.cfm?FuseAction=Majority.PressReleases&ContentRecord_id=84691 b8e-802a-23ad-4728-e60de8d50fea