The Climate Bill: 5 things you need to know

The new Senate climate bill includes electric cars, offshore drilling, new nuclear plants, and much, much more—here's a brief overview

Under "cap and trade," companies with larger carbon footprints can buy "credits" from more eco-friendly ones.
(Image credit: Corbis)

After months of wrangling, Sens. John Kerry (D-Mass.) and Joe Lieberman (I-Conn.) finally unveiled a climate bill this week that they hope will be put to a vote before November. The third member of the bill's "tripartisan" team, Sen. Lindsey Graham (R-S.C.), publicly dropped his support for it in a spat over immigration reform last month, and has predicted little GOP support for the bill. (Watch a Fox Business report detailing the climate bill.) For those who lack the stamina to absorb the 1,000-page bill, here are five headline measures:

1. Cut carbon emissions by 17 percent by 2020, and 83 percent by 2050

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