Global Warming. The substitute amendment offered by Rep. Barbara Boxer (D-Calif.) to S. 3036 would have created a cap-and-trade system for reducing carbon dioxide and other greenhouse gases. The system would have forced utilities, factories, etc., to collectively reduce their greenhouse-gas emissions by 71 percent by 2050, though individual companies could emit more by purchasing allowances from companies that emit less. The cost to the economy would be in the trillions.
The legislation was likely derailed for the remainder of 2008 when on June 6 proponents failed to invoke cloture on the Boxer substitute amendment. Invoking cloture would have limited debate so that the bill could come up for a vote. The cloture vote failed 48-36 (Roll Call 145), a dozen short of the 60 needed under Senate rules.
We have assigned pluses to the nays because mandates on greenhouse-gas emissions are not constitutionally authorized and would harm the economy.
