S. 3036, the Liberman-Warner Climate Security Act of 2008, is being discussed in the Senate today. It proposes a cap-and-trade scheme for carbon emissions, with the cap gradually declining over the next 40 years.
Not having had time yet to review the bill, I can neither recommend nor decry it. I'm hoping there will be no vote on it today. If you have time, read it and let your Senators know what you think!