republican line, with congressman rick boucher. caller: i worked in a power plant for 33 years, cold-fired. -- coal-fire. it was dirty. when technology can through, when i retired at 84, all the available -- that is not enough for you people. you have to keep throwing this stuff at us. it is going to cost early, sir, for the power plants to have the cap and trade, and it is going to go right on the people. now, people in your -- al gore claimed that the climate change, man-made, so-called, it is nothing but a theory, sir. it has not been proven. it has not been proven that it is man-made. guest: first, let me say that we have consulted, over 2.5 years now, with the electric utility industry, and primarily with those electric utilities that are using coal in order to generate electricity. let me just note one in particular. the largest coal-fired utility in the united states is american electric power, and chief executive officer of american electric power, michael morris, has been a frequent participant with us in hearings before t

rick boucher developed ideas that will provide a future for coal. mike doyle addressed the concerns of the steel industry and other trade vulnerable industries. the chairman of the ways and means committee worked with us to make sure that the interests of low-income families are fully protected. and the chairman of the agriculture committee made sure the legislation addresses the concerns of farmers and makes them part of our energy future. the need to act is clear and urgent. there is a national security imperative to act. this legislation at long last begins to break our addiction to imported foreign oil and put us on a path to true energy security. there is a scientific imperative to act. the evidence on global warming, on the consequences of carbon emission is overwhelming, and we have based our bill on the science. and there is a moral imperative to act. we have obligations to protect and preserve the environment for our children and the generations that follow. and there is an economic imperative to act. this legislation is an enormous jobs bi

host: we want to recommend -- we want to welcome representative rick boucher. the issue of captain trade is in the news, but briefly explain what that is about -- the issue of cat and trade is in the news, but be fully explain what that is about . guest: they would receive emission allowances, they could trade those on the market. they could purchase offsets for entities where the emissions could be reduced at perhaps a lower price and it relies on the market to achieve maximum flexibility. host: will this result in higher taxes? guest: no. it is not a tax. it is purely a regulatory program, and the market will be relied upon to drive investment to the place where the emission reduction can be taken the most economically. host: so who pays for it? guest: well, inevitably, a control program, if it is effective, will carry some increase in energy prices. the goal that we have had in drafting this program has been to make that price must end to make the program economically digestible. our goal was not to dislocate any economic sector. i think the negotiations tha

in just a couple of minutes, congressman rick boucher will be joining us. representative eric cantor will be joining us. the business section of "the new york times," "the gop picking bernanke as an ally of big government." republican lawmakers are mounting a ferocious attack on the republican chairman of the federal reserve, while democrats are coming to his defense. ben bernanke will be grilled today by the house oversight and government reform committee about his role in orchestrating bank of america's controversial takeover of merrill lynch last year. the house investigation is heavily covered by partisanship. president obama is proposing to give the fed new powers to regulate giant institutions including bank of america. it could pose risk to financial systems. below the fold in "the washinton post," "a first lady who demands substance." some of the changes inside the first lady's staff and her efforts to have an agenda here in washington and around the country. we will come back to this issue in the next hour on the private lives of public officials.

boucher. i also want to thank charlie rangel, the chair of the ways means committee and the chair of the agriculture committee for their meaning and ongoing contributions to this process. i want to express my appreciation to nancy pelosi and stanek order for their leadership that we all know why this is so important. the nation that lead integration to make clean energy economy will be the nation that leads the 21st century's global economy. that's what this legislation seeks to achieve. it's a bill that will ultimately open the door for a better future of this nation and that's why i urge members of congress to come together and pass it. the last issue i would like to address is health care. right now congress is debating various health care reform proposals. this obviously is a consultative issue, but i am very optimistic about the progress that they are making. like energy, this is legislation that must and will be paid for. it will not add to our deficit over the next decade. we will fin

. >> tomorrow on "washington journal" woul talk to congressman rick boucher and eric cantor. also former homeland security secretary tom ridge and journalist david frost. and on c-span three we'll continue our live coverage of the senate health committee as they continue work on