"The House could vote today on a measure to cap U.S. greenhouse gas emissions, with Democratic leaders predicting a tight victory for a behemoth bill that has grown more complex with each compromise.

The heart of the bill, which now runs to 1,201 pages, is a plan to reduce emissions to 17 percent below 2005 levels by 2020. To do that, it would create a cap-and-trade system, in which polluters would be required to accrue buyable, sellable credits for all the greenhouse gases they produce.

But the bill also contains a system of caveats, safety valves and rule changes meant to satisfy unhappy Democrats. The result is legislation that could transform the U.S. energy industry -- and allow both Wall Street and the Corn Belt to build a side business in carbon."

Paul Kane, Ben Pershing, and David A. Fahrenthold report for the Washington Post June 26, 2009. 
[2]
See Also:

"Vote Set on House Climate Bill" (Washington Post) [3]

Major Provisions of Bill (AP) [4]

Farm-State Deal Pares Biomass Restrictions (Greenwire) [5]

Column: "For the Farm Lobby, Too Much Is Never Enough" (Washington Post) [6]

Dems, Obama Lobby Last Fence-Sitters (ClimateWire)
[7]
Handful of Dems Hold Key (AP) [8]

Obama Pushes for 'Historic' Energy Bill (Bloomberg) [9]

Gore Not Coming (Politico) [10]

Obama Pitches Bill as Job Creator (Washington Post) [11]

Dems Scramble for Votes (Politico)
[12]
Pelosi Tested (San Francisco Chronicle) [13]