Senators Reveal Climate Bill Specifics

Law360, New York (August 3, 2007, 12:00 AM EDT) -- Sens. Joe Lieberman (I-Conn.) and John Warner (R-Va.) on Thursday unveiled the specifics of their much-anticipated climate change bill, which, if it becomes law, would reduce greenhouse gas emissions by 70% through a cap-and-trade program.

As it stands now, the bill would establish a greenhouse gas registry to track nationwide emissions and a Federal Reserve-like board to oversee the carbon market. It would also provide federal funds for new technologies and for inducing foreign nations to join in the fight against global warming.

The cap-and-trade program...
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