This report identifies issues that must be addressed in the design of a mandatory,domestic greenhouse gas(GHG) reduction program.Three options are specifically evaluated : (1) cap-and-trade programs,(2) GHG taxes, and (3) a "sectoral hybrid" program that combines efficiency standards for automobiles and consumer products with a cap-and-trade program applicable to large GHG emission sources.

This report identifies issues that must be addressed in the design of a mandatory,domestic greenhouse gas(GHG) reduction program.Three options are specifically evaluated : (1) cap-and-trade programs,(2) GHG taxes, and (3) a "sectoral hybrid" program that combines efficiency standards for automobiles and consumer products with a cap-and-trade program applicable to large GHG emission sources.