Report: Carbon emissions cut 30 percent by 2030 under EPA rule

Power plants would reportedly need to cut their carbon emissions by 30 percent by 2030 under a new rule from the Environmental Protection Agency.

The Wall Street Journal reported Sunday that the rule to be unveiled Monday will give states until that time to fall in line with carbon reduction rules. The rule will also give states flexibility in meeting carbon reduction standards by allowing them to submit compliance plans by June, 2016. All reductions will be calculated using 2005 as the base year.

{mosads}The upcoming rule, which marks the first-ever carbon emissions limits on existing power plants, is a centerpiece of President Obama’s efforts to curb climate change in his second term. The much-anticipated rule is sure to be met with fierce pushback from the industry and Republicans.

Senate Minority Leader Mitch McConnell (R-Ky.) has already said he plans to unveil legislation that would block the rule. And the U.S. Chamber of Commerce estimated last week the rule could cost $50 billion per year through 2030.

A Supreme Court ruling gave the EPA jurisdiction over greenhouse gases, clearing the way for the administration to act without help from Congress. The rule is likely to become final in 2015, but is a ripe target for a legal challenge from impacted industry.

A White House official said President Obama called a group of Senate and House Democrats on Sunday afternoon to thank them for their support in advance of the carbon pollution standard release.

“We will release our proposed carbon pollution reduction rule on Monday,” an EPA spokesperson told The Hill. “Until then the agency will not comment on any information that may or may not be in the proposal.”

–This report was originally published at 3:43 p.m. and last updated at 6:39 p.m.<.em>