Free Talk Live

But while administration officials have long said they prefer Congress take action on climate change, the economic official who spoke with reporters Tuesday night made clear that the EPA will not wait and is prepared to act on its own.

And it won't be pretty.

"If you don't pass this legislation, then ... the EPA is going to have to regulate in this area," the official said. "And it is not going to be able to regulate on a market-based way, so it's going to have to regulate in a command-and-control way, which will probably generate even more uncertainty."