House Approves Climate Change Bill

House Democrats pulled off a big win Friday evening -- passing a Climate Change and Energy bill.

The margin of victory was just a handful of votes and they needed President Obama's help to sway some skeptics.

Republicans say the bill will amount to an energy tax that will be paid by every American.

Supporters hope the bill will slash greenhouse gas emissions, fast-track renewable energy, and create jobs.

But opponents say the true cost is millions of jobs. The legislation would impose limits, for the first time, on carbon dioxide and other greenhouse gas pollution from power plants, factories and refineries.

After finishing up the vote, the house headed off on its July Fourth vacation.

The Climate Change and Energy bill now moves to the Senate.

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