Green Bill Gets Passed

The House passes the first environmental bill of its kind.

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After years of activists urging for greener, cleaner air, the US government has decided to take action. On Friday, June 26, US Congress passed the first-ever piece of legislation to address global warming and to begin to metamorphose the way our nation uses and produces energy. The main feature of the bill is a “cap-and-trade” system that will help hamper heat-trapping gasses that lead to climate change. The system sets a limit on overall emission of carbon dioxide and allows utilities and manufacturers to trade pollution permits (allowances) among themselves. These permits will cost about $13 per one ton of carbon dioxide, with prices set to rise as the cap on emissions tightens. To take effect in 2012, this bill will also devote billions of dollars to new energy projects and electricity subsidies for low-carbon agricultural practices. Way to rock the House.