Bush Veto Threat Doesn't Stop Senate Climate Debate

Law360, New York (June 3, 2008, 12:00 AM EDT) -- The U.S. Senate voted 74-14 Monday to begin debate on a climate change bill that would reduce the country's greenhouse gas emissions by up to 66% through a cap-and-trade program.

However, the Bush administration had already issued a veto threat that morning, saying the bill “would result in one of the largest costs ever imposed on Americans.”

“The president hasn't seen a cap-and-trade system designed yet and proposed to this Congress that he could support,” said White House Press Secretary Dana Perino.

She added that the...
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.