House Passes Bill Exempting US Airlines From EU Carbon Plan

Law360, New York (November 14, 2012, 3:48 PM EST) -- The U.S. House of Representatives on Tuesday approved a bill allowing American aircraft operators to avoid participation in the European Union’s controversial cap-and-trade policy, which industry estimates have suggested could cost airlines more than $3.1 billion between 2012 and 2020.

If signed by President Barack Obama, the bipartisan European Union Emissions Trading Scheme Prohibition Act of 2011 will allow for the exemption of American carriers from the ETS, a program members of Congress say would unfairly and illegally tax American aircraft flying into and out of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.