Cap and trade. Simple phrase, but a loaded one in political circles.
The idea is a cap on carbon emissions, payments by emitters going above a certain amount, and a market to trade the permits.
California already has a cap and trade law; the Oregon Legislature will take up a similar concept in the legislative session starting next week, over the objections of several legislators.
State Senator Michael Dembrow is one of the cap-and-trade sponsors, and he chairs a committee that will consider the bill.