Supplemental Reductions from Preventing Tropical Deforestation: 5% of allowances will be allocated from 2012 through 2025 to prevent tropical deforestation and build capacity to generate international deforestation offsets. By 2020, this program will achieve additional emission reductions equivalent to 10% of U.S. emissions in 2005. From 2026 through 2030, 3% of allowances will be allocated to this program. In 2031 and thereafter, 2% will be allocated to this program.
Friday, 26th of June 2009: The bill (HR 2454) passed 219-212, with eight Republican "yes" votes tipping the balance. Forty-four Democrats voted against the bill.
The 1,201-page bill is considered the broadest piece of legislation ever considered by Congress aimed at capping greenhouse gas emissions and placing a price on carbon. Under the bill, emissions would be cut 17 percent from 2005 levels by 2020 and 83 percent by 2050. The massive bill tries to do it all and through a lengthy negotiating process to ensure its passage, it’s also loaded with compromises. But even with those concessions, the bill barely stayed alive, with more than 40 Democrats breaking ranks to vote against it.
After months of negotiations, 211 Democrats and eight Republicans voted for the bill
As difficult as House passage proved, it is just the beginning of the energy and climate debate in Congress. The issue now moves to the Senate, where political divisions and regional differences are even more stark.
Despite the tough path to passage, the legislation is a significant win for House Speaker Nancy Pelosi (D-Ca.) and the bill’s two main sponsors – House Energy and Commerce committee chairman Henry Waxman (D-Ca.) and Massachusetts Rep. Edward Markey (D) – who modified the bill again and again to get skeptical members from the Rust Belt, the oil-producing southeast and rural Midwest to back the legislation.
US Climate Change Bill on the way to support REDD