Markey-Waxman Bill passes House, but Senate looms large

The American Clean Energy and Security Act (ACES) passed through the House Friday by a vote of 219-212, the first major hurdle the bill has to encounter. It now heads to the Senate, and should the 100-seat Senate pass the bill, ACES would be signed into law by strong advocate Obama. The main criticism of the bill is the fear that the bill's stricter emissions standards would spike prices and weaken cap-and-trade impacted companies. Republicans claim the bill has no chance of making it past the Senate. In addition to carbon trading, ACES would develop green buildings, requiring residential and commercial buildings to follow a green code.