Global Warming Reduction Act

Background
The Global Warming Reduction Act of 2007 (S.485) was introduced on February 1, 2007 by Sens. John Kerry (D-Mass.) and Olympia Snowe (R-Maine) to "to amend the Clean Air Act to establish an economy-wide global warming pollution emission cap-and-trade program to assist the economy in transitioning to new clean energy technologies, to protect employees and affected communities, to protect companies and consumers from significant increases in energy costs, and for other purposes." The bill was referred to the Senate Committee on Finance and also gained Sen. Edward Kennedy (D-Mass.) as a co-sponsor.

Bill Summary
The legislation sets up an emissions "cap and trade" system and raises performance standards. It also requires the establishment by 2014 of passenger vehicle standards no less stringent than California's; gives consumer tax credits for advanced vehicle technologies like fuel cells and plug-in hybrids; mandates the use of 60 billion gallons of renewable fuels by 2030; requires the installation of E-85 pumps at certain gas stations; and requires periodic evaluations by the National Academy of Sciences to determine whether emissions targets are adequate.

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 * Senate Committee on Environment and Public Works
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 * global warming
 * Kyoto Protocol