An anticipated cap-and-trade system on greenhouse-gas emissions may have to be significantly altered and could even be abandoned altogether, according to the Associated Press:
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Democrats in both the House and Senate have unveiled draft climate bills. But their supporters acknowledge that the bills may have to be changed, given the economic situation. For example, a proposal to auction off emission permits — a source of money to help refocus the nation's use of energy away from fossil fuels — may have to be abandoned with permits distributed for free.
But some Republicans argue the whole idea of a climate bill ought to be scrapped for the time being. Limits of carbon dioxide would increase energy costs and lead the country "off the economic cliff," said, R-Texas.