In 2009, the House passed Waxman-Markey, which would have required, among other items, a reduction of greenhouse gas emissions by 17% below 2005 levels, by 2020. A similar bill failed to move in the Senate, partially because the White House stand behind it.
A new bill is required. While a renewable electricity standard sounds great (and was part of Waxman-Markey) it may be more harmful to the economy than cap-and-trade or a carbon tax.