Statement on the introduction of the Low Carbon Economy Act of 2007

WASHINGTON, DC (July 11th, 2007) - Senators Jeff Bingaman (D-NM) and Arlen Specter (R-PA) today introduced legislation intended to reduce U.S. global warming pollution. 
Statement by David Doniger, NRDC climate policy director, on the introduction of the Low Carbon Economy Act of 2007
“The bill is another sign of growing political support for federal legislation to cut heat-trapping emissions. Unfortunately, the targets in the Bingaman-Specter bill will not cut emissions fast enough and deep enough to prevent dangerous global warming.  Two-dozen major companies in the U.S. Climate Action Partnership support faster reductions than this bill would accomplish.
“Another issue is that achieving the bill's targets are not assured, because the bill allows industries to buy as many extra pollution rights as they want. The bill does contain constructive provisions to support deployment of new technology, assist low-income citizens, and assure American competitiveness.
“To avoid the most dangerous climate impacts, we need to cut U.S. emissions 15-20 percent by 2020, and 80 percent by mid-century. That is why NRDC supports the Sanders-Boxer Global Warming Pollution Reduction Act (S.309), and the Waxman Safe Climate Act (H.R. 1590).”
For NRDC’s views on other climate bills, go to “Solving Global Warming: Your Guide to Legislation (pdf).”