Sen. John Kerry (D-MA) (L) gives an opening statement during a hearing of the Senate Environment and Public Works Committee on Capitol Hill October 27, 2009 in Washington, DC. (Chip Somodevilla/Getty Images)
Addressing Democratic Sen. Barbara Boxer's panel, Sen. Kerry said the bill would propose an increase in energy costs. “Are there some costs? Yes sir, there are some costs.” In his opinion this is a necessary step toward the goal of limiting emissions and greenhouse gases.
The ambitious bill seeks to reduce C02 emissions by 80 percent in 2050. In the near future, the bill aims to cut greenhouse gases by 20 percent by 2020. The main questions raised about the bill is whether implementing its recommendations will be too expensive for the U.S.
The Copenhagen climate summit is in December. In recent years, the U.S. refused to ratify the Kyoto Accord, an international effort to reduce greenhouse gas emissions. The country was criticized for that refusal. If the United States intends to align itself with other nations to try to address global climate change, the Kerry-Boxer bill could be the answer. During the Copenhagen summit, many countries will try to find a way to combat carbon dioxide emissions.
Over the next 40 years, the bill aims to put a limit on carbon dioxide emissions that come from industries and utilities. The bill would require companies to get certain permits for C02 emmissions from the government. The permits are limited in number.
Many Republicans in the Senate oppose the bill, which they say would reduce economic output, put the U.S. further into debt, and cause more manufacturing jobs to be outsourced to other countries. Also, the price of utilities would jump for many consumers. The American Iron and Steel Institute (AISI) issued a statement on October 27 opposing the Kerry-Boxer bill, citing increased energy costs, job loss and outsourced manufacturing as potential consequences of the bill's requirements.
Sen. James Inhofe, (R-Ok), said the 900-page bill was not comprehensive enough in addressing the problems that could occur if the bill were to go through. He said that the bill would fundamentally reshape the American economy and impact consumers, small businesses, farmers, and American families.
The Environmental Protection Agency has a different perspective, estimating that the increases in cost would be minimal, increasing utility costs 22 to 30 cents per day for each person. At the committee hearing, EPA administrator Lisa Jackson and Secretary of the Interior Ken Salazar urged Sen. Boxer's panel to be swift in their decision.
Today was the first day of the hearings with two more days to go.
