FOR IMMEDIATE RELEASE: Monday, June 16, 2008
CONTACT: Wyeth Ruthven, 202-225-4865
Rep. Lloyd Doggett Introducing Major Global Warming Legislation
Washington, DC - U.S. Representative Lloyd Doggett (D-Texas), a senior Member of the House Ways and Means Committee announced today that he is introducing the Climate MATTERS Act (Climate Market Auction Trust and Trade Emissions Reduction System) to institute a strong cap-and-trade system designed to reduce greenhouse gas pollution. This is the first such bill to receive primary referral to the Ways and Means Committee, which is scheduling a hearing on it within a month.
"My bill to combat global warming gives a green light to green technology, which translates into green dollars and green jobs. America can run the new green energy economy or get run over by it. We can wait and pay dearly to import this technology from abroad, or we can lead with what will become major high tech exports of American products. Let's encourage those high-wage green-collar jobs here in Austin. Instead of an energy policy, which consists of little more than holding hands with Saudi princes and doing nothing as gas prices soar, jobs go overseas, and our planet overheats, we can combat global warming in a way that is right for the environment, right for our economy, right for our health, and right for our national security."
At a press conference today, Congressman Doggett made the following remarks as prepared:
Rep. Lloyd Doggett
Austin Global Warming Press Conference
June 16, 2008
You only need to step outside to feel the heat. Though it is not yet even officially summer, we have already exceeded the average for an entire year for days of 100 degrees and above. In Texas, we know well that increasing portion of our year when the only weather choices are hot and hotter.
Certainly, global warming represents our greatest environmental challenge. And with the increased competition for limited resources already underway around the world, with the potential displacement of millions of people from both flooding and desertification, I believe that global warming also represents our greatest long-term national security challenge. But with every challenge comes an opportunity, and I am convinced that this immense challenge can offer a significant economic opportunity for Central Texas in developing the technology for renewable energy and more efficient use of all energy.
Our country is the world's biggest greenhouse gas polluter, and Texas is the biggest greenhouse gas polluter in America. Since Texas represents the biggest source of the problem, we should accept the responsibility to find a solution. Today, we are doing just that by announcing my introduction this week of a new bill, the Climate Matters Act, which would ensure that the United States will lead, not follow, in combating global warming.
This is the first climate change bill to have been introduced, which will receive primary referral to the House Ways and Means Committee on which I serve. I have been promised a hearing on it within a month. While it may be true that climate change legislation cannot be approved this year, we will not be ready to approve it next year, as an urgent national priority, unless we do more to perfect it now. That is what we are trying to accomplish.
My bill - the Climate Market Auction, Trust, and Trade Emissions Reduction System - you can see why we call it the Climate MATTERS Act, creates a market-based, cap-and-trade system to put strong yet achievable limits on greenhouse gas pollution. It creates a carbon marketplace in which allowances to emit greenhouse gases will be auctioned, bought, sold and traded. The goal is essentially to charge a fair market price for pollution that is currently being dumped into the atmosphere free of charge.
And by creating a market for the sale of emissions allowances, we will be creating another market - a market for green technologies that reduce our reliance on fossil fuels. Existing polluters will seek out green technology to improve their bottom line, and reduce the amount of allowances they must purchase. That is one of the reasons that my bill is so strongly supported by the National Venture Capital Association.
The auction will raise substantial new revenue: revenue that the bill reinvests in clean energy technology, assistance to workers and consumers affected by the transition to a low-carbon economy, and some repair of the damage already inflicted by global warming.
Exciting new Central Texas enterprises, like Heliovolt, understand that a green light to green technology translates into green dollars and green jobs. America can run the new green energy economy or get run over by it. We can wait and pay dearly to import this technology from abroad, or we can lead with what will become major high tech exports of American products. Instead of an energy policy, which consists of little more than holding hands with Saudi princes and doing nothing as gas prices rise, jobs go overseas, and our planet overheats, we can combat global warming in a way that is right for the environment, right for our economy, right for our health, and right for our national security.
BILL SUMMARY
The Climate MATTERS Act
(Climate Market, Auction, Trust & Trade Emissions Reduction System)
The Climate MATTERS Act develops an innovative plan for the auction, revenue and trade aspects of a cap and trade system.
Strikes a Balance: The Climate MATTERS Act is environmentally strong, but realistic about its goals and methods to accomplish them.
* Domestic Auction
o The Climate MATTERS Act emissions cap will reduce emissions 80% below 1990 levels by 2050.
o Beginning by auctioning 85% of all emissions allowances, this bill quickly moves to a 100% auction in 2020.
o While excluding agriculture, forestry and small businesses from the emissions cap, this bill also provides incentives for these sectors to reduce their emissions.
* Green Investment Plan for Auction Revenue
o As the comprehensive auction system raises significant new revenue, this bill recognizes that this revenue is an important aspect of a comprehensive response to global warming. The Climate MATTERS Act devotes this revenue to addressing the social, economic and environmental aspects of adapting to a clean energy economy and offsetting the inevitable impacts of climate change.
o Consumer and Worker Assistance:
* Consumer Assistance: Provides substantial assistance to American families in meeting their household needs and making energy efficient improvements.
* Part of the revenue is used to create the "Healthy Families Fund." The reserve fund acknowledges that climate change and lack of access to affordable healthcare are two of the largest problems America confronts. This fund will assist households with the costs of obtaining and maintaining healthcare coverage as we transition to a new clean energy future.
* Affected Worker Assistance: Provides funding for adjustment assistance, employment services, income-maintenance, and needs-related payments for workers to ease the transition to a low carbon economy. Funds will also assist communities in attracting new employers, provide local government services.
* Worker Training: Supplements funding for green worker training, and provides funding for the advancement of environmental education to create an environmentally-literate workforce.
o Environmental Protections:
* Provides funding to conserve natural resources, mitigate impacts and help wildlife and ecosystems survive global warming. Provides funding to help the developing countries begin to adapt to a changing climate.
* Provides funding to achieve real, verifiable, additional, permanent, and enforceable reductions in greenhouse gas emissions from the agriculture and forestry sectors, as well as promoting forest restoration and deforestation reduction efforts internationally.
o Transition to a Clean Energy Economy:
* Technological Development: Provides funding for the advancement of basic renewable energy technologies.
* Energy Efficiency: Provides funding for energy efficiency and conservation, advancement in mass transit and provides funding to load serving entities to implement energy efficiency programs for their customers. In addition, the bill provides funding for heating and weatherization assistance programs.
* Early Action: Provides funding to operators of emitting facilities in recognition of early action to reduce greenhouse gases.
* International Technology and Adaptation: Provides funding to qualified developing countries to accelerate low carbon technologies and assist the most vulnerable developing countries cope with climate change impacts.
* International Cooperation
o The Climate MATTERS Act also provides strong encouragement to other countries such as China and India to participate through a combination of carrots and sticks in a manner designed to be WTO compliant.
o The bill provides incentives to encourage early implementation of cap and trade agreements by allowing flexibility in setting emissions levels in a limited number of initial agreements.
o Carbon-intensive goods from countries lacking such emissions caps cannot enter the U.S. market without allowances purchased to cover their carbon footprint.
o In addition, the Climate MATTERS Act acknowledges the substantial benefits of tropical deforestation reductions by providing negotiators the ability to reward countries that significantly reduce deforestation, even if they are unable to implement a comprehensive emissions cap.
Fiscally Responsible: The Climate MATTERS Act devotes a portion of the auction proceeds to ensure the bill does not add to our national debt.
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