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Senate Introduces Climate Change Bill as Companion to Waxman-Markey by Madeleine M.L. Tan
Kaye Scholer LLP - New York Office
William A. Tanenbaum
Kaye Scholer LLP - New York Office
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October 28, 2009
Previously published on October 20, 2009
On September 30, 2009, Senate Environment and Public Works Committee Chairman Barbara Boxer and Senator John F. Kerry introduced a companion bill to the House's Waxman-Markey climate bill. The new Kerry-Boxer bill builds closely on Waxman-Markey, with some key modifications, including stricter emission targets when compared to 2005 levels, a slightly different treatment of offsets, and refinements in regulatory oversight of the market for allowances. However, Kerry-Boxer is relatively thin on guidance on the allocation of emissions allowances, a key issue in the debate on climate-change regulation.
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