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More fun and games as the Senate grapples with the climate bill. The latest twist: Senators from coal-dependent states are pushing hard to ease the pain for power companies that rely on coal.
At issue is one of the things that sparked most of the horse-trading when the House wrote its climate bill: How to hand out free emissions permits under a cap-and-trade plan to cushion the cost of the legislation. Thats one of the big tasks facing Finance Committee Chairman Max Baucus in the Senate.
The House settled on a split-the-difference formula. That is, power companies would get free permits based partly on how many greenhouse-gas emissions they produce, and partly on how much electricity they produce. Now, key Democratic senators want to revise that formula, Reuters reports. Some 14 senators wrote to majority leader Harry Reid yesterday:
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