Analysis of the Waxman-Markey Energy and Climate Change
April 20, 2009
Neal McAliley, Richard A. Horsch
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The American Clean Energy and Security Act of 2009, introduced by Representatives Waxman and Markey (the "Waxman-Markey Draft") would establish a national renewable energy standard and an economy wide cap-and-trade program to reduce greenhouse gas emissions in the US. Because it was issued by the leadership of the key committees dealing with global warming in the House of Representatives, this draft legislation is one of the primary vehicles for climate change legislation in this 111th Congress and is a strong indicator of how US cap-and-trade legislation will ultimately be shaped, if enacted at the national level. The Waxman-Markey Draft contains four titles setting forth its major policy initiatives on (1) clean energy, (2) energy efficiency, (3) reducing global warming pollution, and (4) transitioning to a clean energy economy. This Alert includes an overview of these programs and the basic requirements for complying with the renewable energy standard and the cap-and-trade program.
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