The major action on Capitol Hill this week will be centered around around climate change legislation: the Senate should spend most of the week debating one of the competing proposals, America’s Climate Security Act. The House, meanwhile, will likely vote on an Iraq War supplemental, and both chambers still have to approve a 2009 fical year budget resolution that establishes the framework for next year's spending bills. In election news, the final Democratic presidential primaries happen tomorrow, as well as congressional primaries in seven states.
The America's Climate Security Act is bipartisan legislation that aims to reduce the amount of carbon emissions in the country by 70 percent by 2050. It would establish a “cap-and-trade” program: emissions would be "capped" at a certain level (with the ceiling dropping further every few years) through a permit system for polluters, with the holders of those permits allowed to reduce their emissions and then "trade" (read: sell) the permits for the remainder. This creates a financial incentive for polluters to reduce emissions that will increase over time as the lowering cap makes the permits more precious.
It's unlikely the bill will become law this year, however: it faces an uphill battle in the Senate and a likely veto from President Bush. Still, the the battle lines formed in the debate this weak will auger the the fate of the inevitable resurfacing of the issue in next year's Congress.
More on this week's legislation, committee schedules and an update on superdelegates after the break.