President Obama is set to issue an executive order Monday on new carbon pollution regulation that will impact the nation's 600 coal-fired power plants.

The new regulation, drafted by the Environmental Protection Agency, aims to cut up to 20% of carbon dioxide emitted from coal plants--a sizable amount representing the toughest action yet on rolling back climate change undertaken by an American president.

The plan calls for the creation of a state cap-and-trade program, part of a slate of options states have to cut emissions that includes bringing more solar and wind power alternatives online.

Guests:

Nick Loris, Fellow, The Heritage Foundation and an economist who focuses on energy, environmental and regulatory issues

Robert Stavins, Professor, Business & Government, John F. Kennedy School of Government, Harvard University; Director, Harvard Environmental Economics Program