The Lieberman-Warner Bill (Cap & Trade Bill) is due to come up before the Senate on Monday. This bill sets a cap on greenhouse gas emissions that comapnies are allowed to emit. It forces companies to get permits to emit carbon. The government would allocate some of these permits and auction others for revenue. Basically another huge earmark. How does this affect the American people? Try adding another $ 1.50 a gallon to your gas tab and probably an additional $ 25.00 or more to that electric bill.
Right now, the bill appears to fall short of a 50 vote majority in the Senate and corporate support has splintered. Clinton, McCain and Obama all support climate change legislation. Support does continue to grow; however, for Congress to regulate greenhouse gases. So even if this bill goes down in flames – as it should – look for it to pop up again in the future much the same way as the government keeps secreting in Amnesty.