You can read the lawmakers' propaganda about the legislation here: 1.usa.gov/WjCr6K
But something really jumped out at us: the bill would effectively repeal existing motor vehicle standards to limit greenhouse gas emissions. Note language below from Section 305 of the bill.
This bill is probably going nowhere. It appears to be more hot air than anything. But you do have to wonder if the auto industry -- which supported national vehicle greenhouse gas standards -- will speak up on the vehicle issue.
(c) CARBON DIOXIDE OR GREENHOUSE GAS EMISSIONS REDUCTIONS.—Notwithstanding any other provision of law, the Administrator or the head of any other Federal agency or department shall not regulate or continue to implement or enforce any regulations, proposals,or actions establishing any carbon dioxide or greenhouse gas emissions reductions until the Administrator, the Administrator of the Energy Information Agency, and the Secretary of Commerce certify in writing that—
(1) the People’s Republic of China, India, and the Russian Federation have proposed, implemented, and enforced measures requiring carbon dioxide and other greenhouse gas emissions reductions; and
(2) the reductions described in paragraph (1) are substantially similar to the carbon dioxide and other greenhouse gas emission reductions proposed by the Administrator or the head of any other Federal agency or department for the United States.
Any regulation, proposal, or action in effect before, on, or after the date of enactment of this Act, but before the date on which the certification under subsection (c) is made, that requires any carbon dioxide or other greenhouse gas emissions reduction shall have no force or effect.