Cap and Trade Vote Today in US House of Representatives

There is still debating going on to decide if a cap and trade system will benefit the environment at the cost to the economy. Soon, though, debates will be finalized with a vote by the US House of Representatives to either accept or reject the bill, which was endorsed by President Barack Obama.

Lawmakers are expected to vote on the bill between 3:00 p.m. and 4:00 p.m. EST today, and the Democratic party needs at least 218 from the 435 seats in Congress. The bill proposes, for the first time in the U.S., to set national limits on emissions of greenhouse gases from power plants, refineries and factories.

The cap-and-trade system will be set up as an incentive program for companies to find less polluting ways of generating power. The government will give companies permits to pollute but they will have a capped limit. When a company exceeds the permit amount it has the option to buy additional permits from other companies or would be forced to find ways to reduce its pollution.

A better system for controlling pollution and green house gasses has been a top priority for the Obama Administration, which cites increased national security as a major factor - alternative energies reduce our dependence on foreign oil.