Cap and trade legislation stalls in the Senate
Events last week prompted us to move the meter on one of President Obama's top promises. During the 2008 presidential campaign, Obama said he would create a cap and trade system with goals to reduce global warming.
Don't know what cap and trade is? The idea is that the government sets a limit on how much carbon different companies, such as electric utilities or manufacturers, can emit -- that's the cap. The government then issues permits for emissions to companies and allows them to buy and sell the permits as needed so they can conduct business -- that's the trade. If the policy works as planned, overall emissions decline, companies determine for themselves the best way to lower emissions, and the free market rewards those who lower emissions most effectively.
The House of Representatives passed a cap and trade bill a little over a year ago, but Democratic leaders in the Senate conceded last week that they didn't have the votes to move the bill forward. (Read more about the Senate developments in our full update.) So we're moving the Obameter to Stalled.
The cap-and-trade promise is one of the 25 promises we've designated as being Obama's most significant. The current tally of the Top 25 stands at 12 In the Works; 5 Promise Kept; 4 Compromise; 3 Stalled and 1 Promise Broken.
See individual promises for complete sources.
Researchers: Lukas Pleva
We want to hear your suggestions and comments.
For tips or comments on our Obameter and our GOP-Pledge-O-Meter promise databases, please e-mail the Obameter. If you are commenting on a specific promise, please include the wording of the promise.For comments about our Truth-O-Meter or Flip-O-Meter items, please e-mail the Truth-O-Meter. We’re especially interested in seeing any chain e-mails you receive that you would like us to check out. If you send us a comment, we'll assume you don't mind us publishing it unless you tell us otherwise.
Keep up to date with Politifact:
- Sign up for our e-mail (about once a week)
- Put a free PolitiFact widget on your blog or Web page
- Subscribe to our RSS feeds on Truth-O-Meter items
- Subscribe to our RSS feeds on GOP Pledge-O-Meter items
- Subscribe to our RSS feeds on Obameter items
- Advertise on PolitiFact
- Shop the PolitiFact store for T-shirts, hats and other PolitiFact swag