As Congress returns to Washington to continue its legislative session, the question many are asking is whether an energy or climate change bill will be on the agenda for the Senate. The House has already passed major climate change legislation, but the Senate has not. As with most other measures before the Senate, a super-majority of 60 votes will be needed for anything to be able to pass and the question is "where are the votes?"
President Obama has been calling on the Congress to pass legislation that will "put a price on carbon." And as a result, key Senators including John Kerry (D-MA) and Jeff Bingaman (D-NM) have been working late hours trying to put together a legislative climate deal that can garner the necessary bi-partisan support.
In particular, a proposal to impose climate restrictions only on the electric utility sector is being viewed as a possible path to a compromise. Senator Jeff Bingaman, Chair of the Senate Energy Committee, is reported to be working on such a bill and talking with potential Republicans about whether they can support such a measure. Most observers believe it could be another week or two before we know with any certainty whether a bi-partisan agreement on energy/climate is possible.
The President has also been pushing for an expansion of the manufacturing credit for green/renewable technologies. "Now, my attitude, and Harry’s attitude, is that if an American company wants to create jobs and grow, we should be there to help them do it,” he recently said in remarks at the University of Reno, Las Vegas. “So that’s why I’m urging Congress to invest $5 billion more in these kinds of clean energy manufacturing tax credits, more than doubling the amount that we made available last year. And this investment would generate nearly 40,000 jobs and $12 billion or more in private sector investment, which could trigger an additional 90,000 jobs," President Obama stated.
Most consider it likely that any energy/climate measure acted on in the Senate would involve measures involving the jurisdiction of several committees, particularly the tax law writing Senate Finance Committee. In addition to the manufacturing credit, most renewable groups have been strongly urging Congress to extend the tax credit cash-grant provisions of the 2009 stimulus bill, which allowed for a cash payment in lieu of a tax credit for renewable power facilities placed in construction quickly. That provision expires at the end of this year.
Today, news that three key Republicans have agreed to support the final version of the financial reform bill has encouraged some that there may still be bi-partisan openings possible despite the fact that elections are nearing. Votes to close debate and pass the measure from Senators Olympia Snowe and Susan Collins of Maine and Scott Brown of Massachusetts will help Senate Leader Harry Reid (D-NV) break that roadblock for the wall street regulatory measure.
Meanwhile, the clock continues to work against the Senate leadership as well. As each day passes the congressional agenda gets more complicated by the need to complete action on all of the annual appropriations bills and any other pending measures hoping to make it to the President's desk before adjournment.
