American Clean Energy and Security Act of 2009

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The American Clean Energy and Security Act of 2009 (ACES)(also referred to as the Waxman-Markey bill) primarily sought to promote a clean energy economy, reduce greenhouse emissions, and create energy independence. The ACES would have created a cap-and-trade system on all greenhouse gas emissions by specific sectors of the economy and created other restrictions to reduce overall emissions within the U.S. at least 83% below 2005 levels by 2050. Also, the ACES intended to encourage the development and transportation of clean energy by establishing a variety of regulations, studies, and grants for projects such as carbon capture or energy efficiency standards. Simultaneously, these projects were expected to reduce dependence on foreign sources of energy and produce millions of clean energy jobs.

The ACES passed the House by a slim margin on June 26, 2009, but the bill never received a vote in the Senate.

[Last updated in June of 2021 by the Wex Definitions Team]