House Democrats announced Tuesday that they are close to a preliminary agreement on US climate legislation, meaning the Energy and Commerce Committee could complete its work on schedule next week.

Reuters reports, via the Washington Post, that the deal would ease the requirement for reducing overall emissions from 20 to 17 percent by 2020. The language would also allow upward of 35 percent of the emissions allowances to be given away for free to utilities in the early years.

Obama, Democratic leadership and most economists think a 100 percent auction is wisest because each company must then pays for the right to pollute, but news of a compromise on these principles is hardly surprising. This is one easy place for political bargains to be struck with lawmakers who want to protect one industry or another in their state.

Meanwhile, Greenwire is reporting that Committee Democrats have also reached a deal on a renewable electricity standard, long a top priority among environmentalists. Many set their sites on 25 percent by 2025, but the House language would apparently reduce that to 20 percent and allow a quarter of the requirement to be met through improvements in energy efficiency.

So what’s the significance of all this? Unclear, in a word. Getting a bill out of committee is the first hurdle, and it’s tough to do that without getting agreement among Democrats, including moderates who come from states powered by coal and heavy industry. But the bill still has to go to the full House, where this process will start all over with a new set of moderate lawmakers, each of whom has a particular concern based on local circumstances.

In the end, House Democrats have more than enough votes to pass legislation without any measurable Republican support, assuming they can close ranks. The problem would then shift to the Senate, where things are even more difficult thanks to the notorious filibuster. This procedural quirk allows opponents to block anything that can’t muster 60 out of 100 votes.