America's Energy Security Trust Fund Act of 2007 (H.R. 3416)

• Imposes a $15 tax per ton of carbon on any taxable carbon substance sold by the manufacturer, producer, or importer in 2008. The tax will be adjusted with the cost of living every year thereafter.
• Allots tax refunds to carbon emissions that are sequestered.
• Establishes a trust fund that will finance R&D for clean and renewable energy sources.

  To view bill's status click here for Legislative Tracker 2007

• Caps electric generation sector. Emissions are capped at 2.3bl. metric tons of carbon dioxide in 2011-2014, 2.1bl. metric tons in 2015-2019, 1.8bl. metric tons in 2020-2040, and 1.5bl. metric tons every year after 2025. All new plants must meet the Standard of Performance equivalent to emissions limits of 1,100lb of carbon dioxide per megawatt hour. (The bill also makes provisions for Mercury, Nitrogen Oxide, and Sulfur Dioxide emissions.)
• Encourages energy efficiency technology and defines energy efficiency as a carbon dioxide offset tool.
• Encourages renewable energy use and allows it to offset carbon dioxide emissions.
• Encourages carbon sequestration and considers terrestrial and geological sequestration a carbon dioxide offset action. Mandates the Environmental Protection Agency (EPA) to develop human health and environmental standards for carbon sequestration.  

  To view bill's status click here for Legislative Tracker 2007

Clean Air Planning Act of 2007 (S. 1177)

• Caps 2012-2014 emissions at 2006 levels, 2015 emissions at 2001 levels, 2016-2019 emissions at 1 percent less than the year prior, 2020 emissions at 1.5 percent less than the year prior. Starting in 2030 and every year thereafter, emissions capped at 3 percent less than the level of preceding years. (The bill also makes provisions for Mercury, Nitrogen Oxide, and Sulfur Dioxide emissions.)
• Establishes an Energy Efficiency Technology Program with annual funding 15 percent of the Climate Action Trust Fund.
• Mandates the EPA to establish a carbon dioxide allowances reserve to encourage clean coal technologies. Calls the EPA to develop criteria and standards for advanced clean coal technology. Mandates the EPA to annually invest 20 percent of the Climate Action Trust Fund into development and deployment of clean coal technologies.
• Establishes a low- and zero-emitting carbon dioxide technology research program.
• Calls for R&D in energy efficiency, carbon dioxide lifecycle analysis of energy generation, and agricultural sequestration.
• Encourages research into sequestration technology and provides allowances to sequestration projects.
  

  To view bill's status click here for Legislative Tracker 2007

Climate MATTERS Act of 2008 (H.R. 6316)

• Starts cap on carbon in 2012, with an ultimate target of 80 percent below 1990 levels by 2050.
• Establishes an International Climate Change Commission to be appointed by the President that evaluates whether goods imported from WTO members are in compliance with the requirements of the Act and imposes excess emissions penalties if not.
• Auctions 100 percent of each year's allowance allocation every 12 months.
• Permits up to 15 percent of allowances to be from participating WTO nations, 15 percent from international forest allowances, and 10 percent from domestic offsets, but not to exceed a total 25 percent of compliance obligation offset by those three.
• Establishes a Carbon Market Efficiency Board that studies the dynamics of the carbon market and can take action to reduce impacts on the economy such as permitting more offsets or reallocating allowances from later years to earlier years.
• Allocates 15 percent of auction proceeds to a Deficit Reduction Trust Fund and the other 85 percent to a Citizen Protection Trust Fund, which pays for the comsumer protection and R&D programs provided by the bill.
• Devotes funding specifically to adaptation measures and research on carbon reduction and sequestration measures for agriculture and forestry.
  

  To view bill's status click here for Legislative Tracker 2008

Climate Stewardship and Innovation Act of 2007 (S. 280 / H.R.620)

• Caps tradeable allowances at 6,130 million metric tons, measured in units of carbon dioxide equivalents, reduced by the amount of greenhouse gas emissions in 2012. 2020 allowances will be 5,239 million metric tons, 4,100 million metric tons by 2030 and 2,096 million metric tons by 2050.
• Makes a variety of allowances for international emissions credits.
• Establishes an energy efficiency program in the Department of Energy (DOE) aimed specifically at mitigating climate change.
• Provides secured loans or loan guarantees for 3 low or zero greenhouse gas emitting advanced reactor design projects for which applications for combined construction and operating licenses have been filed on or before December 31, 2015.
• Provides secured loans or loan guarantees for 3 integrated gasification combined cycle coal power plants with carbon capture and geological storage.
• Calls the DOE, EPA and Department of Transportation (DOT) to jointly establish a competitive, merit-based research program to fund renewable fuels and energy proposals.
• Increases financial incentives for climate change and energy efficiency technology development. Mandates the National Science Foundation (NSF) to increase and establish funding priorities for university research in climate change adaptation and mitigation. Mandates the National Oceanic and Atmospheric Administration (NOAA) to establish program to research abrupt climate change.
• Establishes a working partnership between DOE and United States Geological Survey (USGS) to produce research, guidelines and standards for carbon sequestration.
  

  To view bill's status click here for Legislative Tracker 2007

Electric Utility Cap and Trade Act of 2007 (S.317)

• Caps emissions at 2006 levels by 2011-2014; to 2001 levels by 2015; and reduces emissions by 1.5 percent every year starting in 2020.
• Makes a variety of allowances for international emissions credits.
• Climate Action Trust Fund for development and deployment of technologies for increasing the efficiency of energy end-use in buildings and industry and the Energy Efficiency Technology Program.
• Eligible for limited emissions allowances.
• Climate Action Trust Fund for development and deployment of clean coal technologies and the Clean Coal Technology Program.
• Climate Action Trust Fund for development and deployment of low- and zero-emitting carbon dioxide electricity generation technologies.
• Outlines climate change related research priorities for NSF, NOAA, National Institute of Standards and Technology (NIST), National Aeronautics and Space Administration (NASA) and the EPA.
• Provides offset credits and early reductions credits for carbon sequestration.
  

  To view bill's status click here for Legislative Tracker 2007

Global Warming Pollution Reduction Act (S.309)

• Caps emissions at 80 percent of 1990 levels by 2050.
• Calls the US to participate in negotiations under the UNFCCC and establishes a bipartisan Senate observation group to monitor international negotiations on climate change and ensure timely consideration of treaties.
• Starting in 2008, requires suppliers to annually achieve electricity savings and reduce peak power demand and electricity use by a prescribed amount. Calls for 11.75 percent-9.0 percent energy efficiency improvement by 2020.
• Requires vehicles to meet new standards by 2016. 205 carbon dioxide equivalent grams per mile for automobiles with weight of 8,500-3,750lb; 332 grams for vehicles with weight of 8,500-3,750lb; 405 grams for vehicles with weight of 8,501-10,000 lb.
• Requires 20 percent of US electricity to come from renewable sources by 2020. Allows for renewable energy credits but prohibits double credit counting.
• Establishes government support for R&D of basic and applied research relating to technologies aimed at reducing global warming.
• Provides grants to study sequestration technologies and requires government to establish standards for carbon sequestration.
  

  To view bill's status click here for Legislative Tracker 2007

Global Warming Reduction Act (S. 485)

• Freezes economy-wide emissions in 2010 and reduces emissions to 65 percent below 2000 levels by 2050.
• Requires the President to engage in international climate talks.
• Awards tax credits for individuals who invest in energy efficient technologies.
• Sets emission standards equal to or greater than standards adopted by the California Air Resources Board in September 2004.
• Establishes measures to advance technology and reduce emissions through renewable energy. Requires 20 percent of US electricity to come from renewable sources by 2020.
• Provides new R&D funds for cleaner, more efficient vehicles.
• Requires the Secretary of Agriculture to establish standards for accrediting certified reductions in the emission by carbon sequestration, updating standards every three years.
  

  To view bill's status click here for Legislative Tracker 2007

Investing in Climate Action and Protection Act (H.R. 6186)

• Covers 87 percent of U.S. greenhouse gas emissions and lowers them to 2005 levels by 2012, to 20 percent below 2005 levels by 2020, and to 85 percent below 2005 levels by 2050.
• Covers an additional 7 percent of emissions with mandatory standards for coal mines, landfills, wastewater treatment facilities, and large animal feed operations as well as incentives for farmers and forest managers to reduce emissions and retain carbon sinks.
• Auctions 94 percent of allowances in 2012 gradually transitioning to 100 percent by 2020.
• Returns at least half of auction proceeds to low and middle income families to compensate for increased energy costs resulting from the legislation.
• Invests the remaining auction proceeds in research and development on low-carbon technology.
• Includes policy measures to encourage developing countries with high emissions to take action on climate change.
  

  To view bill's status click here for Legislative Tracker 2008

Lieberman-Warner Climate Security Act of 2008 (S. 3036)

• Same as the S.2191 bill with the following five exceptions:
• Creates a "Cost-Containment Auction" that reduces the price of allowances in the near-term by permitting a certain percentage be borrowed from future allowance periods, reducing costs due to inflation.
• Allows for only 5 percent of offsets to be international compared with 15 percent in S.2191, but allows for 10 percent to be international forest credits, and adds flexibility by elimating the "facility-specific" limitation for offset use.
• Eliminates the Climate Change Credit Corporation and instead has the EPA auctioning the allowances, with the proceeds distributed by a new Climate Change Technology Board.
• Allocates the same number of allowances, but provides a larger percentage to non-covered entities such as states.
• Creates a Carbon Markets Working Group to oversee the market and ensure it is fair, accurate, and competitive.
• In addition to the differences listed above, the CBO costs estimates differ with an estimated surplus of $78 billion for S.3036 and an estimated deficit of $15 billion for S.2191.
  

  To view bill's status click here for Legislative Tracker 2008.
  
  For a more detailed comparison of S.2191 and S.3036 see the report from the Congressional Research Service.

Low Carbon Economy Act (S. 1766)

• Caps emissions at 2006 levels by 2020 and at 1990 levels by 2030, includes a "Technology Accelerator Payment" (TAP) that works like a safety valve starting at $12 per metric ton of carbon dioxide.
• Regulates "upstream" emissions produced by the petroleum and natural gas industries and "downstream" emissions for the coal industry.
• Compels the U.S. to engage with developing countries to fund R&D and technology transfer programs. Accepts foreign carbon credits in the U.S. when accepted by President.
• Creates Early Technology Deployment Programs that fund zero- or low-carbon energy technologies, such as cellulosic biomass and energy efficiency.
• Allows 24 percent of allowances to be auctioned off to generate R&D funding, this allocation rises to 53 percent by 2030.
• Sets aside 8 percent of allowances for carbon capture and storage to incentivize investment. Facilities sequestering carbon shall receive 1 credit for every ton of sequestered carbon. Facilities employing carbon capture and storage technology, operating by 2030 and meet all other requirements are allotted bonus allowances, 3.5 allowances for every ton of carbon sequestered. The bonus allowances are reduced to 0.5 by 2039.

  To view bill's status click here for Legislative Tracker 2007
  
  For detailed bill information and analysis, visit the Senate's Energy and Natural Resources website
  

Safe Climate Act of 2007 (H.R.1590)

• Caps 2010 emissions at 2009 levels. Reduces emissions by 2 percent each year after 2010. Starting in 2021, reduces emissions by 5 percent annually so that emissions in 2050 do not exceed 20 percent of the 1990 level.
• Calls for US participation in UNFCCC negotiations to establish mitigation commitments by all major greenhouse gas emitters.
• Creates end-user savings targets for retail electric-energy and natural gas suppliers. Targets based on annual savings of supplier's retail sales must increase from .25 percent in sales in 2010 to 1 percent of sales in 2012-2020.
• Sets emission standards equal to or greater than standards adopted by the California Air Resources Board in September 2004.
• Calls for 20 percent of US electricity to come from renewable sources by 2020.

  To view bill's status click here for Legislative Tracker 2007

Save Our Climate Act of 2007 (H.R. 2069)

• Imposes a $10 tax per ton of carbon on primary fossil fuels. After 2008, the tax is increased by $10 annually, until carbon dioxide levels are below 20 percent of 1990 levels.

  To view bill's status click here for Legislative Tracker 2007