The Economic Impact of Waxman-Markey on the Home Building Industry
September 17, 2009Timothy Harris, Benjamin Ingram
On June 26, 2009 the U.S. House of Representatives passed the American Clean Energy and Security Act (ACESA) by a narrow vote of 219-212. The House passed the over 1,200 page piece of legislation which contains provisions intended to lower Greenhouse Gas (GHG) emissions from large segments of the United States economy. It also sets benchmarks for increased efficiency in buildings and consumer products, and mandates that certain percentages of power generation come from non-fossil fuel and renewable sources. Possibly the most famous part of the ACESA legislation is its cap and trade system for GHG emissions.