ACES Act Passes With Bean’s Support

PUBLISHED: June 26, 2009

Congresswoman Melissa Bean (IL-08) released the following statement upon joining her colleagues to pass H.R. 2454, The American Clean Energy and Security (ACES) Act, which reduces carbon emissions from major U.S. sources by 17% by 2020 and over 80% by 2050, as compared to 2005 levels, through establishment of a carbon cap-and trade system:

 "This forward-thinking policy moves our nation away from the status-quo, ‘drill-only' dependence on foreign oil, in a way that is affordable to American families and businesses while protecting our planet. This bill measurably reduces carbon emissions, the leading cause of climate change, with a balanced approach that gives businesses allowances and time to transition to new technologies."

 Notable facts on H.R. 2454:  

• The non-partisan Congressional Budget Office (CBO) predicts that the cost to the average household will be about the cost of a postage stamp per day.
• The average small manufacturer will see electric bill costs increase by less than $1 per day, according to estimates from power company Exelon.
• There are NO manufacturers or independent businesses in the Illinois 8th District that will be affected by the cap. 

The CBO also predicts that the bill will reduce annual federal deficits by $24 billion by 2019.