The word is that McCain and Lieberman are determined to bring their Climate Stewardship Act up again during this Congress, maybe as an amendment to class-action reform legislation this week.
The CSA is billed on Lieberman's site as "a 'cap and trade' system that would harness market forces to help cut greenhouse gas emissions."
Unfortunately, it would also cut 600,000 jobs, according to this study by Charles River Associates. Check out how your state would fare in the state-by-state breakdown.
Jay Lehr and Joseph L. Bast of the Heartland Institute say 'fie' (they really say 'fie') to such studies here:
We do not need sophisticated econometric or global climate models to tell us that reducing greenhouse gas emissions will cost jobs and income and have no impact on Earth's climate.
And this Marshall Institute study explains why letting unreliable climate models dictate policy can be a risky business.