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James Pethokoukis

Cap-and-trade a short-term win for Democrats

California's Henry Waxman and Massachusetts' Edward Markey might rightfully be called the "godfathers" of the cap-and-trade climate legislation that just passed the U.S. House of Representatives. But in the end, it was Speaker Nancy Pelosi who determinedly willed to life what President Obama described today as an "extraordinary piece of legislation."
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