The Wall Street Journal is reporting today that the major climate change bill is heading to a vote this Friday in Congress. The American Clean Energy and Security Act of 2009 (H.R.2454), or known as Waxman-Markey after the authors of the bill, will cap greenhouse gas emissions at 17 percent of 2005 levels by 2020, and an astonishing 80 percent by 2050. The bill, spanning over 900 pages, contains numerous policies that will drastically change the way energy in the United States is regulated.
The bill seemingly was in trouble when a number of Midwestern Democrats from farm states — that grow vast amounts of corn that can be used for ethanol — objected to certain provisions. It appears as though those issues have been resolved and the bill is poised to pass this Friday.
As noted in the WSJ post, despite the latest compromise, there is still considerable opposition to the bill.