Kerry and Lieberman's draft bill — the product of eight months of contentious negotiations with environmentalists, the energy industry and nearly everyone in between — would establish a carbon cap that aims to reduce U.S. greenhouse-gas emissions to 17% below 2005 levels by 2020, and ultimately 80% below those levels by midcentury. It would also devote billions of dollars in aid to transportation, including public transit, and expand funding for carbon sequestration and clean-energy research and development. If the bill passes — and if it is reconciled with the tougher cap-and-trade bill passed last year by the House — it will represent the first truly national program to reduce the greenhouse-gas emissions that contribute to climate change. "The American Power Act will finally change our nation's energy policy from a national weakness into a national strength," said Kerry at the bill's unveiling. "It's time to act."
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