Waxman, Markey Introduce “H.R. 2454, The American Clean Energy and Security Act"

UPDATE: May 18, 2009 - Chairman Henry A. Waxman and Subcommittee Chairman Edward J. Markey introduced an amendment in the nature of a substitute to the American Clean Energy and Security Act. It is available through the Energy and Commerce Committee website.

Chairman Henry A. Waxman and Subcommittee Chairman Edward J. Markey introduced “H.R. 2454, The American Clean Energy and Security Act” on May 15, 2009. The Energy and Commerce Committee will begin markup of the bill on Monday, May 18, 2009, at 1:00 p.m., and will complete consideration before the Memorial Day recess.

“The legislation will create millions of new clean energy jobs, save consumers hundreds of billions of dollars in energy costs, promote America’s energy independence and security, and cut global warming pollution,” said Chairman Waxman. “In support of these goals, this legislation ensures that consumers and industries in all regions of the country are protected. I look forward to working with all members of the Committee to approve this legislation to make America the world leader in new clean energy and energy efficiency technologies.”

“This bill marks the dawn of the clean energy age,” said Subcommittee Chairman Markey. “This is a once-in-a-generation opportunity to revive our economy and create millions of good-paying clean energy jobs. After months of hearings and discussions with my colleagues, I am pleased that we have produced a bill that has widespread support from all regions of the country.”

Full Text of H.R. 2454, "The American Clean Energy and Security Act"

A document summarazing how the emissions allowances will be allocated is also available here. 

55% directly to consumer protection measures

• 30% to protect consumers from energy rate increases using existing regulated electricity distribution centers and efficiency measures
• 15% direct protection to low/middle income consumers
• 10% for natural gas and heating oil consumer protection

35% to grow and protect American jobs and invest in a clean energy future for all communities

• 17% to defend US jobs from foreign polluters (steel, glass, paper and refineries)
• 10% to renewable and efficiency programs in the states
• 3% to build clean electric and other advanced, fuel efficient vehicles
• 2-5% to CCS technology, ensuring coal companies must develop new technology without passing costs to consumers
• 2% for domestic adaptation to protect people from the impacts of pollution and climate change
• 1% to Research & Development for clean energy technologies of the future

**The remainder will go to other programs, like clean energy job training, international measures, funds to keep the program revenue-neutral, and other initiatives.

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