DEFINITION of 'American Clean Energy And Security Act Of 2009'
A piece of legislation that was created in an attempt to establish an economy-wide climate and energy policy to help address the issue of climate change. The U.S House of Representatives passed the act on June 26, 2009, by a vote of 219 to 212.
BREAKING DOWN 'American Clean Energy And Security Act Of 2009'
The American Clean Energy and Security Act of 2009 is also known as the Waxman-Markey bill after committee chairman Henry Waxman and Rep. Edward Markey. The legislation aims to create a greenhouse gas cap-and-trade system along with various other measures to help the U.S move toward a clean energy economy.