Chris Van Hollen

We would like to look at expanding that to some debt financing as we go forward.

These are policies and financial funding and incentives have to come at the national level, and that's why we also have to deal with issues around federal preemption.

We all need to get behind that plan.

We've also had many cases where we have not been able to make progress, which is why it's essential that we move forward more aggressively on that front.

Federal preemption is also inhibiting the solution.

I hope someday legislation will be passed to protect people like us.

Prince George's County is a vivid example that, right in the backyard of our nation's capital, the foreclosure crisis is here, and growing.

It's important to get that--the stories, right from the ground.

I think we all know that people with second homes, people with yachts, real estate speculators and others can currently go into bankruptcy court.

It's essential that we take very firm and strong action at the Federal level.

The voices of consumers and the voices of civil rights protection need to move away from the kid table to the front table.

We need those benchmarks and we really need to tie the productivity in meaningful modifications and by that, I mean principal reductions.

What is important is you really need to provide more choices for the American consumer.

For you, Dr. Ekwurzel, Dr. Hansen has proposed that in order to address the price impact on the consumer, you essentially have a rebate, a 100 percent rebate.

I cannot tell you exactly. By the way, the $115 is per ton of CO2, not carbon.

Let us assume that is the path we want to reductions on that schedule. What would be the effective price for carbon in order to hit that goal and any schedule in terms of price increases?

I guess the question on the minds of many consumers is not Dr. Hansen's approach a more direct approach to ameliorating that cost impact on a consumer?

I like the carbon price as the tuning knob because it is a stable one with a linear, while in the case of caps, there is too much volatility.

What would be the effective price for carbon in order to hit that goal and any schedule in terms of price increases?

Thank you, Mr. Chairman. Let me thank all of our witnesses for their testimony.

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