peterson

The Waxman-Markey energy and climate bill has gained momentum since its passage out of the House Energy and Commerce Committee on May 21. The bill, which carries tax implications, is expected to pick up its needed stamp of approval from the Ways and Means Committee by June 19, says committee chair Rep. Charles Rangel (D-N.Y.). [...]

As the economy sinks toward recession and increased regulation gains support, lawmakers aim to tackle the elusive, unregulated derivatives market, with a focus on credit default swaps.