Carbon Limits and Energy for America's Renewal Act

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{{#badges: CoalSwarm|Climate change}} The Carbon Limits and Energy for America's Renewal Act is a Senate climate bill S. 2877 introduced by Sen. Maria Cantwell (D-WA) and Sen. Susan Collins (R-ME) on December 11, 2009, which embodies a “cap-and-refund” approach to addressing climate change. The Act would create a nationwide limit on greenhouse gases by capping total emissions and requiring major polluters to buy “allowances” for each ton of greenhouse pollution produced: 75% of the revenue generated from the allowances would go to American households, and the remaining 25% of revenue is reserved for reducing greenhouse gas emissions, investments in renewable energy technology, climate adaptation, and other purposes.[1]

According to Sen. Cantwell: "A growing number of researchers and consumer groups have been examining the relative benefits of a greenhouse gas reduction policy that focuses on safeguarding and empowering consumers. A properly structured climate policy will put cash in consumers’ pockets and provide the necessary capital to make America’s homes and communities more efficient and less polluting."[2]

In promoting a cap and dividend policy without carbon offsets, stronger carbon limits that do not interfere with the Clean Air Act, and increased funding for renewables over fossil fuels, the bill differs from the financial market carbon trading plan promoted by the Clean Energy Jobs and American Power Act, introduced in May 2010 by Senators John Kerry and