And the Repubs haven't even gotten their own claws into it yet...
By Brad Friedman on 5/15/2009, 3:59pm PT  

With Democrats like these, who needs Republicans?...

Even as House Democrats are celebrating their deal with conservative-leaning colleagues on climate change legislation, the real winners under the compromise have been the coal, electric and auto industries, who are largely the source of the nation’s carbon emissions to begin with.

Details of the compromise are still emerging, but already the chief sponsors of the measure — Reps. Henry Waxman (D-Calif.) and Edward Markey (D-Mass.) — have been forced to lower carbon-reduction targets, cut renewable fuel standards and dole out billions of dollars in benefits to the nation’s largest polluting industries. Many environmentalists say the compromise comes at the too-high cost of undermining the bill’s very purpose, which is to slash emissions dramatically enough to prevent a warming planet from heating further. Some are asking Democrats either to bolster the environmental protections or to scrap the proposal altogether.
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the concessions from Waxman and Markey to this point have been made to satisfy Democrats representing regions heavy with coal, oil and automaker interests.

Details on some of those "compromises" follow, along with a reminder that it'll get even worse once the Republicans get to water down the legislation further still...

For the coal and electric utility industries, for example, the compromise bill requires that U.S. emissions be reduced 17 percent by 2020, down from the 20 percent reduction promoted in the initial draft. The new bill also tamps down an earlier provision that states get at least 25 percent of their electricity from renewable sources by 2025, instead dropping that floor to 15 percent.

Additionally, although President Barack Obama had campaigned on a platform of selling 100 percent of so-called pollution permits to industry — a strategy he said would generate $646 billion to fight global warming over the next decade — the House compromise gives all but 15 percent of those permits away for free.
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The compromise also waters down the so-called cash-for-clunkers program, which ostensibly encourages drivers to turn in their gas guzzlers in exchange for a federal subsidy on more fuel efficient models. Yet under the compromise proposal, the new fuel efficiencies are hardly dramatic. For example, drivers trading in trucks between 6,000 and 8,500 pounds would be eligible for a $3,500 voucher for purchasing the same-sized vehicle that’s more efficient by just 1 mile per gallon.

And one more point worth noting...

And these changes have arrived before the amendment process begins. House Republicans have vowed to dilute the environmental protections even further during debate in the Energy and Commerce Committee or on the House floor. Indeed, Sen. Joe Barton (Tex.), the senior Republican on E&C, has predicted that Republicans will succeed in altering the bill to consider nuclear energy and so-called “clean coal” renewable fuels.