PBOC Says It Adds Short-term Funding to China Money Market
Coal-State Lawmakers File Measure to Overturn EPA’s Climate Rule
A group of coal-state lawmakers introduced a measure to overturn the Environmental Protection Agency’s proposed limits on carbon-dioxide emissions from power plants.
The joint resolution faces an unlikely road to becoming law because it would also need to be passed by the Democratically-controlled Senate and signed by President Barack Obama. The measure would use the Congressional Review Act to invalidate the proposed rule, which was issued this month. The lead sponsor of the resolution is Representative David McKinley, a West Virginia Republican.
Obama in June directed the EPA to issue a cap on carbon pollution from power plants, which account for 40 percent of U.S. emissions. The EPA proposal, which applies to only new plants, would essentially mandate that new coal plants use expensive carbon capture technology. With that requirement no new coal plants would be built, according to industry representatives.
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