Two U.S. Senators that head the Committee on Environment and Public Works today are introducing climate change legislation. Based on early reports, the bill authored by Senators Barbara Boxer (D-California) and John Kerry (D-Mass.), will call for greater reductions of greenhouse gas (GHG) emissions than the House version, which narrowly passed in June.

The House bill calls for a 17 percent reduction of GHG emissions below 2005 levels by 2020. The Senate version reportedly imposes a 20 percent reduction by 2020. Unlike the House version, the Senate bill will also preserve the authority of the Environmental Protection Agency to use the Clean Air Act to regulate greenhouse gases. Unlike the House version, the Senate bill does not stipulate how the carbon permits will be allocatted, essentially punting on the most contentious issue until hearings begin. The Senate version also will include provisions to fund training of workers in the nuclear industry and provides some funding for development of clean coal technology.

Senator Boxer’s office has indicated that the legislation’s remaining details will be fleshed out in upcoming committee hearings, with the expectation of passing the bill out of committee by the end of October. The prospect of a climate change bill passing the full Senate this year, however, is looking less and less likely. The health care legislation is consuming almost all of Washington’s time and attention, leaving little time for the Senate to address climate change. Senate Majority Leader Harry Reid (D-Nevada) has also publicly acknowledged that there might not be enough time or support to bring the bill for a vote before the full Senate by the end of the year.

This then raises the question of whether a bill can pass at all during the 111th Congress (which ends in Jan. 2012). Heading into an election year, it may be difficult for the Senate to cobble together enough votes to stave off a filibuster.

We will continue to provide updates on both the Senate and House climate change bills.