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As a new non-partisan analysis of the House climate change bill -- proving that capping CO2 can save money for the poorest fifth of the nation -- continues to make waves on the Hill, it's worth noting that the legislation could yield even greater savings by focusing on reducing transportation-based emissions.

House Energy & Commerce Committee Chairman Henry Waxman (D-CA) and Rep. Ed Markey (D-MA), his climate legislation co-author. (Photo: Washington Independent)

In a report released Friday, the Center for Clean Air Policy (CCAP) quantifies the benefits of setting tangible goals for reducing the carbon footprint of transportation, which currently accounts for about one-third of total U.S. emissions.

Using smart growth policies to reduce per-capita VMT by 10 percent below 2005 levels would achieve emissions reductions equivalent to taking 35 large coal plants off-line or taking 30 million cars off the road by 2030, according to the CCAP analysis.

The report, viewable in full here, offers some interesting examples of how smart-growth proposals can pay environmental dividends. For example, the Organization for Economic Cooperation and Development and the International Energy Agency -- hardly known as bastions of the environmental movement -- have found that emissions reductions of up to 14.5 percent can be achieved at a cost of less than $3 per ton of CO2 simply by encouraging carpooling, telecommuting and eco-driving.

Perhaps most politically relevant conclusion in the CCAP report, however, deals with a topic very much on the minds of Congress these days: how to push regionally favored industries, from Rep. Collin Peterson's (D-MN) agriculture producers to Rep. Gene Green's (D-TX) oil refiners, to accept their share of the emissions-reduction burden.

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At the end of March, representatives Henry Waxman and Ed Markey introduced an ambitious federal climate bill. This is the real deal — the legislative centerpiece of President Obama’s effort to combat global warming.
Transportation contributes about a third of all greenhouse gas
emissions in the U.S., so any climate bill will have to green the way
we get around to be effective. On that score, however, the draft
legislation has some glaring omissions.

It includes tougher national emissions standards for vehicles
and incentives to develop plug-in hybrid infrastructure, but no funding
for transit or more walkable development. There’s already a proposal
circulating in Congress to link a cap-and-trade system with investment
in transit and smart growth — the CLEAN TEA bill.
Parts of CLEAN TEA have been incorporated into the Waxman/Markey bill,
but not the core provision to dedicate 10 percent of the revenue from
carbon auctions to green transportation projects.

That could change. Transportation
for America is gathering signatures urging Congress to beef up the
provisions for sustainable transportation in the climate bill.
Adding the CLEAN TEA funding mechanism would translate to about $8
billion per year, based on the Obama administration’s projection for
annual revenue from carbon auctions. Waxman’s committee will begin
making changes to the bill on Monday, so now is time to sign on and
speak up for stronger legislation.