June 26, 2009- HOUSE PASSES HISTORIC WAXMAN-MARKEY CLEAN ENERGY BILL
News Release: June 26, 2009
Karen Lightfoot/Caren Auchman (Waxman): (202) 225-5735
Dan Reilly (Markey): (202) 225-2836
House Passes historic waxman-markey
clean energy bill
This landmark bill will revitalize our economy by creating millions of new jobs, increase our national security by reducing our dependence on foreign oil, and preserve our planet by reducing the pollution that causes global warming.
“Today we have taken decisive and historic action to promote
“Today the House has passed the most important energy and environment bill in our nation’s history,” said Chairman Markey. “Scientists say that global warming is a dangerous man-made problem. Today we are saying clean energy will be the American-made solution. This legislation will create jobs by the millions, save money by the billions and unleash investment in clean energy by the trillions.”
The bill contains the following key provisions:
· Requires electric utilities to meet 20% of their electricity demand through renewable energy sources and energy efficiency by 2020.
· Invests $190 billion in new clean energy technologies and energy efficiency, including energy efficiency and renewable energy ($90 billion in new investments by 2025), carbon capture and sequestration ($60 billion), electric and other advanced technology vehicles ($20 billion), and basic scientific research and development ($20 billion).
· Mandates new energy-saving standards for buildings, appliances, and industry.
· Reduces carbon emissions from major
· Protects consumers from energy price increases. According to recent analyses from the Congressional Budget Office and the Environmental Protection Agency, the legislation will cost each household less than 50 cents per day in 2020 (not including energy efficiency savings).