replace them. he said from intense pressure from the top of the united states government. there are thousands of scientists whose oedipus -- a petition on this silliness. einstein question newtons 200 years of science. some challenged him on the questioning on civil science. he showed the letter to his friends. he said one of them may have reached a fact. that is all we ask for you. >> the gentleman's time has expired. >> we have an opportunity to serve in a historic session in congress in the united states. we have the opportunity to take

action that will make a major difference in the security and independence and environment of rubber globe and our country. we have been given the privilege by our fellow citizens to serve at a time of historic change in meet the challenges that were subject to this past presidential campaign. in this past presidential campaign, there were three major candidates. there were two at the end. they had something in common. they were both for comprehensive cap and trade legislation. the candidate you supported and i supported. they put an agenda of action before the american people that they would pursue if elected

president of the united states. only one could be elected. both would have followed through on the commitment that this president has. this is a transformative moment. this is the moments to build a clean energy future for our country. this is a moment, to create jobs in america. this is a moment to take on a defining challenge of our time, global warming. i know my colleagues and see if this moment. that is if they only will. there is a manhattan project that is being talked about. i think the sentiments expressed in the substitutes are good ones.

the objectives are good ones. america voted for action not additional steps. they voted to make a difference not to make a point. america voted for the change we could believe in. that is what this bill represents. i know they can look back on a future in which america is independent of foreign or oil. there has been much talk about taxes. every bill has been about raising taxes. my fellow americans know about having their expenses raised because the foreign people hold us hostage because they provide some much of our energy gave us a new tax at the gas pump, and every american remembers it. we have not taken the action

necessary to become energy independent. our gasoline prices at the pump for commuters who drive an hour to support their families paid an additional $2.50 per gallon tax imposed by those from abroad to provide as energy. this bill is about making sure that foreign interests cannot affect the expenses of our families. this bill is about making sure that we in america provide our energy, efficient energy, clean energy, energy that will not bring our glob to a heating process that will drown out what

the navy calls the seashore's where most of our people live. this bill is a true turning point. this is one of the historic actions we will take not just in this congress but as members of congress for however long tenure we may have. it is a complex bill. we face a complex problem. we can sum up its outcome assembly. less independent and foreign energy, a reduction in the carbon pollution that causes global warming, more american jobs. how does this bill accomplish those goals? a requirement that utilities

made 20% of renewable sources of energy efficiency by 2020. i am old enough to remember the lines of the 1970's where you waited in line 1 hour to put gasoline in your car so you could get your child to school and get to work. america should have acted, but they did not. today we are going to act. significant new investments in renewals. electric vehicles in cutting edge energy research, all of that is in this bill to take action. change that america can believe in. energy-saving standards for building supplies and industries. it will help banks fund energy-

efficient products across america. investment in america's ingenuity and innovative spirit. that is what this bill is about. that is why it is so important to america. we need high-tech transmission lines. that is essential so that the energy we produce can be delivered to those who need it in businesses and homes. new transmission lines comprise of superconducting cable and other efficient wires will cable -- will carry more with less land use and be more secure and environmentally friendly. that is what this bill does. i work with the chairman to ensure that those transmissions and the provisions were included, because they are very important to our energy-

efficient future. the bill includes reduction of our carbon emissions by 17% by 2020. some like to do more. some would like to do less. we have reached a compromise. that is the legislative process that can pass this house and senate and the sun by the president and become law and make progress. that is where our responsibility is. we want to fight global warming with the same type of market base. capt. trade was effective at combating acid raid in years ago. there was disagreement on certain things for a long time. president bush decided that global warming was a challenge

that must be met. this is not a partisan issue. it is an issue on which we have reached consensus. global warming threatens everyone of us and affects the kind of lives our children will leave any kind of prosperity our country will enjoy. to those who complain about the cause of the bill, we are all paying the cost of carbon emissions already. as i pointed out earlier, paying the cost of being hostage to those abroad who provide our energy. the longer we wait to act, the more we will pay year after year. if we take action nell, we can get jobs, growth, clean energy, and energy independence for less than the price of a postage stamp a day for each of us.

with this bill passed and signed, the united states would be able to argue the challenge that knows no borders. the chinese and indians do not act. the air that they built will soon come to this continent and it will put our people at risk. america is the leader and must leave. america must set the example. this bill does exactly that. we will send a powerful job- creating signal to the private sector spurring innovation in every part of the renewable energy economy. jobs, jobs, jobs. that is one of the reasons why a business coalition dedicated to battling climate change is working on this.

this coming change represents an excellent opportunity for economic growth. 19 businesses, the national grid, starbucks, and 90 road to president obama that this bill will drive investment by -- and nike wrote to the president that this bill will drive investment by innovation. we need to plan for future business success. those are the words of leaders in the corporate community in america who knows something about innovation, enterprise, and free markets. it has been understood that acting on global warming is a

necessity as well as an intellectual necessity. more of us are realizing that it makes powerful economic sense as well. thank you for your presiding at this time on this historic bill. this house will miss your service, but the country will enjoy your continuing service. i think you madam speaker. [applause] the future of clean energy is well worth the price. a republican governor in maryland said the cost of failure far exceeds the price of

progress. the price of a failure has cost this country over the past few decades. progress will be far less expensive than fell year. the generations to come will be the beneficiaries of our stewardship were the victims of our neglect. we should not stop action that is desperately needed in this country and in the global. i urge my colleagues to pass this bill, take this historic

opportunity for our children, our grandchildren, and degenerations to come. i yield back the balance of my time [applause] ] >> later the house minority leader except the floor and read from a 300 page amendment to install the vote. here is a portion of his remarks followed by house speaker nancy pelosi. >> i hate to do this to fall at 300 page amendment at 3:00 a.m.. the american people have a right to know what is in this bill. [applause] let me get to the bottom of page 155. each federal financial institutions regulatory agency

in not later than six months after the date of the fact revised its standards for the performance of realty appraisers in connection with federally related transactions under the jurisdiction of the agency under the amendments made by paragraph 1 of this section. we have to retrain every appraiser in america so that they understand this law so they know how to properly appraise the value of someone's property. they need to meet the requirements also in this bill regarding consideration of any renewable energy sources or energy efficiency. every appraiser has to be sent to school for this. but at page 157. the appraisal subcommittee --

the appraisers must be determined to be qualified to appraise the property. >> each organization that receives assistance from the council -- with any amount made available from the secretary -- the energy efficiency standards need to be complied with.

more power for a lot of unelected people. it was under 60, the secretary should use a mouse in the fund to provide loans to state indian tribes to provide incentives for single-family multiple family housing, public housing to provide renewable energy sources. gives a long list. there is no appropriation for it. on page one under 64, a day of a resin another $5 billion. there is no idea of where this money comes from. -- on page 164, they give information about another $500

billion. there is no idea of where this money comes from. the nuns will be prescribed encouraging the maintenance of some centers to provide any consumer who sees information on completing a home equity loan, or or other certain types of loans with additional information. are you kidding me? [laughter] i have heard of blackmail, but now i know what greenmail really is. on another page, the general accountability office reports on the availability of affordable mortgages. after we drive the price of every mortgage up in america, we will help them do a report on affordable mortgages. they are going to be more

expensive. [applause] let's get paid 173 -- let's look at page 173. it talks about sustainable billing elements used. we are not going to guarantee the mortgage, but we will guarantee the improvement of the property as well. the full faith and credit of the united states is alleged to the payment of all guarantees under

this section is affected by certain interests. it is right here. the full faith and credit of the united states is pledged to the payment of all guarantees issued under this section with respect to principal and interest. the term grain portion means with respect to an eligible mortgage, and that it is. -- did it is attributable. on page 184, on april 1 or on a later date established by the administration on wished the term offset credit expires, the owner or operator must demonstrate compliance.

i cannot tell you what that means. so i read it. on page 190 it talks about algae. on pay 189 we have renewable biomass. this is the third definition of renewable biomass. this caught my attention at the bottom of page 191 section three. for 2012, we are talking about something. then we get to paid 280.

carbon derivative markets. we have heard enough about credit default swaps. most of you know that under this section, the commodities exchange act strikes an agricultural commodity and the answer is an agricultural commodity or emission allowance, federal renewable a trustee credit, and other things under this act. now we are going to let those governed under the this trade under these credits with others around the world. and on and paid 2ge 209, it tals about derivatives, regulatory reform and others.

any idea of the derivatives regulations that will be dealt with in this bill? on page 210 to prevent an increase in greenhouse gas emissions in countries other than the united states, i presume that means countries like india and china, to induce foreign countries and fast growing and developing countries to take substantial action with respect to their greenhouse gas emissions. india and china have made it perfectly clear to everyone of us that they have no interest and will not go down this path. it further goes on to insured the measures described are implemented in a manner consistent with international agreements to which the united states is a party. the very structure of the border

provisions makes this impossible to achieve. ""the wall street journal" said yesterday that this could start a trade war if we try to impose our bureaucracy on other countries. then make it to you page 225. this allows us rebates. it says pursuant to the entities indirect carbon factor in calculated under subsections b3. can anybody tell me how to calculate an indirect carbon factor what an indirect carbon factor is? page 226, not more than 85% of the u.s. imports data met one

criteria in that section -- then the 10-year note production schedule is given. we will try to control imports from countries based on what they are doing with regard to their energy policy. use of data to determine factor -- where it is not possible to determine the precise emissions. in what instances would it not be possible to determine what that is that page 23?

page 233. the administrator shall use the available data for the maximum amount of years. why every quarter years? bridgett four years? -- four years? what is the cost of this provision? on page 234 the administrator shall use it from the registered on one section. how much is this going to cost? promoting international

reductions in emissions, pay ge 236. that is the policy of the u.s. to work proactively under the u.n. framework to manage climate change and other pro reforms to establish funding agreements -- and other forums to establish agreements. page 237. the products that are not exempted under section 758

should be given to the countries. they are trying to pretend that this will satisfy the consultation required by the wto rules. it result in retaliation against u.s. exports. requesting the foreign country to take appropriate measures to limit the greenhouse gas emissions in those countries. if they are really nice, they will have to, but if we can, we will enforce them to adopt our bizarre regulatory scheme. the united states negotiated objectives with multilateral negotiations. we are telling the administration what their objectives are going to be as they negotiate environmental issues with other countries around the world.

president of reports p 239. the president should submit a report to congress on the effectiveness of the distribution of emission allowances in a mitigating carbon leakage. we go to another page. 26. -- 260. modification of our income credit. why does this bill neglect middle-class families of america? why are we only going to help some people who qfy