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May 28, 2008 12:57 pm US/Eastern

Markey Announces Global Warming Bill

BOSTON (AP) ― Rep. Edward Markey is pushing a bill he says would significantly reduce global warming.

The Massachusetts Democrat unveiled a bill Wednesday that seeks an 85 percent cut in greenhouse gas pollution by 2050.

The measure uses a cap-and-trade auction system that sets a price on carbon emissions and permits companies that pollute to buy or trade credits within the system. Similar proposals have been opposed by Republicans as an undue burden on businesses.

Markey is chairman of the House Select Committee on Energy Independence and Global Warming. He expects to file his bill next week when Congress returns from its Memorial Day break.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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