Number: RS22076
Title: Climate Change: Summary and Analysis of the Climate Stewardship Act (S. 342, S. 1151, and H.R. 759)
Authors: Larry Parker and Brent Yacobucci, Resources, Science, and Industry Division 
Abstract: The Climate Stewardship Act (S. 342, S. 1151, and H.R. 759) would reduce emissions of six greenhouse gases from anticipated levels beginning in 2010. Using a flexible, market-based implementation strategy, the bills would require economy-wide reductions, but permit participation in pre-certified international trading systems and in carbon sequestration programs to achieve part of the reduction requirement. The bills exclude residential and agricultural sources of greenhouse gases, along with entities that do not own a single facility that emits more than 10,000 metric tons of carbon dioxide equivalents annually. As introduced, S. 342, S. 1151, and H.R. 759 would require that greenhouse gas emissions from covered entities be limited to year 2000 levels. By restricting the reduction regime to a single phase with a 2000 level target, S. 342, S. 1151, and H.R. 759 are projected to have substantially reduced costs compared with proposals to further reduce emissions to 1990 levels. In June 2005, S. 1151 was debated on the Senate floor as S.Amdt. 826, and defeated on a 38-60 vote.
Pages: 6
Date: July 18, 2005