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June 27, 2009

Obama: Climate Change Bill Good for Jobs
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http://enews.voanews.com/t?ctl=25068BC:A6F02AD83191E160C0A6623B845C51B121A4E82C900CD027&
 
US president calls bill that passed House of Representatives Friday
'historic' and crucially important for job creation 
President Barack Obama at the White House, 25 Jun 2009U.S. President
Barack Obama is calling a climate change bill that
passed the U.S. House of Representatives Friday "historic" and
crucially important for job creation. In his weekly broadcast
Saturday, the president says the legislation will finally make clean
energy "profitable." The bill puts severe limits on harmful emissions
and promotes alternative energy. The president says the bill encourages
investments in clean energy that will create thousands of jobs. The
legislation passed the House by a close margin Friday and now goes
tothe U.S. Senate for consideration. The president Saturday called on
every Senator to support the bill, saying they cannot be afraid of the
future. The bill faces an uncertain fate in the Senate where
Republicans, who are in the minority, can use procedural hurdles to
halt its passage. House Democratic
leaders made several changes to satisfy lawmakers from agricultural
states, who fear the bill will increase energy costs on their
constituents. Only eight Republican members of the House voted in favor
of the bill. The
bill calls for lowering carbon dioxide and other emissions by 17
percent from their 2005 levels by 2020, and 83 percent by 2050. Under
the measure, major polluters, such as coal-fired factories and
utilities, would be able to buy allowances from the government.
Companies that fall below their allowances can sell them to other
entities that exceed them. One
recent government study shows the bill will cost the average household
between $80 to $110 a year, while another estimates the cost at $175 a
year. Some information for this report was provided by AP and Reuters.


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