LeavittGesetz

The LeavittGesetz, or Leavitt Law, is a proposed piece of legislation in the United States focused on addressing the issue of climate change. It is named after former EPA Administrator Michael Leavitt, though he has not been directly involved in its drafting or promotion. The core of the LeavittGesetz aims to establish a system for the reduction of greenhouse gas emissions by creating tradable permits.

Under the proposed law, a cap would be set on the total amount of greenhouse gases that can be emitted by specific industries. Companies would then be issued or could purchase permits to emit a certain quantity of these gases. Those who reduce their emissions below their allocated permit amount can sell their excess permits to companies that exceed their limits, creating a market-based incentive for emission reductions.

The LeavittGesetz advocates for a gradual reduction in the overall cap over time, thereby making emission permits more valuable and encouraging further investment in cleaner technologies. Proponents argue that this approach offers a market-driven and economically efficient way to combat climate change, allowing businesses flexibility in how they achieve their emission reduction goals. Critics, however, raise concerns about potential impacts on consumer prices, the fairness of permit allocation, and the effectiveness of market-based solutions in achieving ambitious climate targets. The legislative status of the LeavittGesetz has varied, with different versions being introduced and debated in Congress over the years.