House Speaker Nancy Pelosi said Friday that she plans to resurrect something similar to the failed cap-and-trade bill that the House passed nearly a decade ago but that the Senate couldn't muster the votes to pass.
“We couldn’t pass in the Senate our climate bill, and we’ll be returning to that,” Pelosi said on Friday at as part of MSNBC’s “The Speaker” town hall broadcast.
Pelosi is referring to the bill named after former Reps. Henry Waxman and Ed Markey, who is now a senator. The bill put in place a cap on carbon dioxide emissions, while offering emission credits to the power plant operators, which they would have to purchase in order to meet the cap. The price of the credit would adjust as an incentive to reduce emissions.