05.22.2009 Climate Change Policy & Carbon Finance Update
ACES High: Climate Change Bill Moves Forward in House. On May 15, 2009, House Energy and Commerce Committee (the “Committee”) Chairman Henry Waxman (D-Calif.) and Energy and Environment Subcommittee Chairman Ed Markey (D-Mass.) formally introduced climate change legislation entitled the American Clean Energy & Security Act of 2009 (H.R. 2454) (known as the “ACES” bill). An amendment in the nature of a substitute was introduced the following Monday. The Committee spent four days debating and marking-up the substitute amendment. On the second-to-last day before adjourning for Memorial Day recess, the Committee voted in favor of the revised bill by a vote of 35-21, with only one Republican, Mary Bono Mack (D-Calif.), voting “yes.”
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