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Senators John Kerry (D-Mass.) and Barbara Boxer (D-Calif.), have introduced a Senate companion to the Waxman-Markey Energy Bill that passed earlier this year, another step toward the creation of a law that would reduce CO2 emissions.
The Clean Energy Jobs and American Power Act aims to cut carbon pollution and stimulate the economy by creating millions of jobs in the clean energy sector, according to Kerry.
"This is a security bill that puts Americans back in charge of our energy future and makes it clear that we will combat global climate change with American ingenuity. It is our country’s defense against the harms of pollution and the security risks of global climate change,” said Kerry in a statement.
The bill sets a pollution reduction target of 20 percent by 2020 and 80 percent by 2050 from 2005 levels. It also would preserve the important functions of the Clean Air Act in the area of carbon pollution. Other provisions in the bill would improve funding for nuclear waste storage and research for carbon sequestration for coal burning power plants.
AIA President Marvin Malecha said that AIA hoped revenue from allowances generated by the cap and trade program would support green building initiatives.
“Although a lot of the details have yet to be worked out, we are encouraged that the Kerry-Boxer climate bill includes some very strong provisions to promote green buildings, including programs to encourage retrofits and to strengthen green energy building codes, two longstanding AIA priorities,” said Malecha.
“We know clean energy is the ticket to strong, stable economic growth -- it's right here in front of us, in the ingenuity of our workers and the vision of our entrepreneurs. We must seize this opportunity, or others will move ahead," Boxer said in a statement.
A summary of the bill is available for download from Kerry's Web site.