"Cap and trade" is a term being used to define a bill passed by the House of Representatives last year.

Under the bill, Washington would impose steadily declining limits on the levels of carbon pollutions that companies are permitted to emit.

The pollution permits companies would be required to hold would be traded in a regulated financial market.

The bill, which is being met with resistance primarily by Republicans, has been stuck in Senate since last year.

Republicans refer to the controversial plan as "cap and tax" and are working to kill the bill.

Resistors argue that "cap and trade" will decrease employment rates and raise energy costs.

Senator Joseph Lieberman, an independent from Connecticut, is trying to dispel the negative connotation that comes with the title "cap and trade" by rephrasing the nickname of the bill.

Instead, Lieberman uses the term "pollution reduction targets."

In the past year, other ideas have been discussed for controlling carbon emissions.

Some options include a carbon tax, a "cap and dividend" plan, and a "cap and trade with training wheels" program, where an independent board would set a narrow price range for carbon for eight years in order to give markets experience in trading permits.

Although the bill remains stuck, Lieberman says it is still possible utilities may be subject to a cap and trade system.

However, rebranding "cap and trade" with the title "pollution reduction" probably won't be enough to sway stubborn conservatives in its favor.

Until next time,

Hilary