The U.S. House of Representatives recently passed H.R. 2454, a comprehensive energy and climate bill entitled the “American Clean Energy and Security Act of 2009” (“ACES”) and popularly known as the “Waxman-Markey bill” after the lead sponsors. The Senate has indicated that it will consider legislation based upon H.R. 2454 in the fall.
H.R. 2454 is hundreds of pages long and includes five titles. Titles I and II address clean energy and energy efficiency, respectively. Title III includes the cap and trade program and related provisions. Title IV addresses issues relating to transitioning to a new clean energy economy, including international competitiveness, worker transition, technology transfer, and adaptation. Finally, the bill as passed included a new Title V granting the Department of Agriculture authority over domestic agricultural and forestry offsets.
This white paper provides an overview of the provisions in each of the five titles of ACES.