Proposed cap-and-trade plan to reduce carbon emissions 80% below 1990 levels by 2050
Said that 100% of emissions permits under this plan would be auctioned off, and none would be given away to industries
Plan also limited the use of offsets (which allow U.S. companies to meet emissions reduction requirements by paying for emissions cuts in other countries)
Said that the U.S. must take the first step in emissions reduction, but all countries must join in
Nearly all Congressional Democrats support cap-and-trade legislation on carbon emissions, but they disagree on many details
Party leadership supports a bill with limitations on carbon offsets (which allow U.S. companies to meet emissions reduction requirements by paying for emissions cuts in other countries)
Democrats representing labor, manufacturing, and agricultural interests want to allow more offsets to soften economic effects