Chamber of Commerce

Federal Legislation

Cap and Trade Legislation (American Clean Energy and Security Act) - HR 2454

The Cap-and-Trade bill passed the U.S. House on 6/26/09 by a vote of 219-212. A cap-and-trade program is one in which a government or regulatory body sets a limit or “cap” on the amount of environmental degradation permitted in a given area and then allows firms or individuals to trade permits or credits in order to meet the cap.

The bill, HR2454, known as the Waxman-Markey bill, will have major implications and seriously impact electric rates with a potential increase of at least 25% starting in 2012. These types of increases seriously jeopardize and put at risk economic development, community sustainability, jobs and existing industry.

To see how the legislation may affect your district and state, click here.

For more information on cap and trade view the August 14th Kiplinger letter, here.

Below are the votes of our tri-state delegation on HR 2454.

Iowa
Congressman Steve King - No
Congressman Tom Latham - No
Congressman Leonard Boswell - Yes
Congressman Dave Loebsack - Yes
Congressman Bruce Braley - Yes

Nebraska
Congressman Jeff Fortenberry - No 
Congressman Lee Terry - No
Congressman Adrian Smith - No

South Dakota
Congresswoman Stephanie Herseth Sandlin - No

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