I voted for the American Clean Energy and Security Act (H.R. 2454), sometimes called Cap and Trade. This historic legislation was an important effort to help America achieve energy independence and fight global warming. It would have created millions of jobs in the green energy sector, reduced our dangerous dependence on foreign oil, and helped curb greenhouse gas emissions. The world economy is rapidly moving towards greater reliance on green technology, and we must act now in order to continue to be the world's leader in the transition to a green economy. This legislation would have promoted innovation and made long-term investments in technology that would benefit our economy and create jobs for years to come.
Additionally, energy rebates and tax credits would have been offered to low-income households to offset costs, while keeping energy costs low for all Americans. There would have been no deficit increase as a result of the legislation. The American Council for an Energy-Efficient Economy released a study stating that the legislation could save approximately $750 per household by 2020 and $3,900 per household by 2030. The legislation passed the House by a vote of 219 to 212 in 2009. Unfortunately, the Senate did not act on this important legislation and given the partisan climate in the House of Representatives it is unlikely that a new version of this bill will be considered this year.