Date: 18-May-09
Country: US
WASHINGTON - Fifteen percent of emissions permits would be sold to polluters each year under a climate change bill moving through the US House of Representatives, according to a document circulated on Friday describing the legislation.
The proceeds from those sales would be distributed to low-income and moderate-income families in the United States to help offset possible energy price increases as a result of the legislation to reduce greenhouse gas emissions, according to the document.
The document said an unspecified number of other permits also would be auctioned to pay for the government's expenses in administering the proposed "cap and trade" program if it were to become law. It was not clear from the document whether any other permits also would be sold.
(Reporting by Richard Cowan, editing by Patricia Zengerle)
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