Obama Ally Wants Delay in Cap-and-Trade
Sen. Claire McCaskill says an environment plan could kill business climate.
Dec. 9, 2008— -- One of Barack Obama's closest allies in the Senate said Tuesday that she hopes the economic downturn can induce the incoming president to delay the centerpiece of his plan for reducing carbon emissions.
"Let me speak for me here because I think this is very dangerous," said Sen. Claire McCaskill, D-Mo. "I would like to keep my relationship with Barack at this point. Let me speak for me."
McCaskill said she hoped Obama would delay a plan to institute a cap-and-trade system to reduce carbon emissions by 80 percent below 1990 levels by 2050.
"I think a delay may be necessary," she continued. "Yes, we've got to do something. Yes, we have to move forward. But we can't kill the business climate at the same time. I'm from a state where most of the people who turn on the lights in the state get it from utility companies that depend on coal. And the cost of switching all that to clean coal technology or to alternative sources is going to be borne by them -- by regular folks who are trying to figure out how to pay their mortgages right now."
McCaskill cemented her ties to Obama during the Democratic presidential primary campaign by becoming the first female senator to endorse him over Hillary Clinton. She made her cap-and-trade comments to Ron Brownstein, the political director of Atlantic Media, during a National Journal discussion of Obama's "First 100 Days" held in Washington, D.C.
Under the Obama plan, the federal government would set a ceiling on carbon emissions and require companies to bid for permits to emit greenhouse gases through an auction. The government would gradually lower the amount of credits available.
Firms that reduced their emissions below the required level could sell leftover credits to other polluters. Obama would take a small portion of the auction receipts, $15 billion per year, and use it on energy efficiency, alternative fuels, and what his campaign promise book, "Change We Can Believe In," refers to as "other measures to help the economy adjust."
Related Stories
ABC News Live