In the closing hours of the legislative year, lawmakers approved a last-minute deal Wednesday to free up hundreds of millions of dollars from the state’s cap-and-trade program to fund green projects across the state. Under the agreement, which broke a two-year impasse, the state will spend $900 million on programs to reduce greenhouse gas emissions — nearly two-thirds of $1.4 billion that has been raised but was tied up unspent in a political stalemate. The money will go toward subsidies for electric cars, new park space and pedestrian-friendly affordable housing. California’s 4-year old cap-and-trade program raises money from businesses that purchase permits to pollute.

The deal was announced on the Legislature’s final day, and was hailed by the governor and legislative leaders. It comes not long after they inked an ambitious plan to combat climate change by extending and expanding California’s targets to reduce greenhouse gas emissions.

Continue reading:  Gov. Jerry Brown, state lawmakers reach last-minute deal on spending cap-and-trade revenues

2 thoughts on “Gov. Jerry Brown, state lawmakers reach last-minute deal on spending cap-and-trade revenues

  1. I like that California is trying to do something about climate change. I wish more states would. I wish less politicians made fun of Climate change. I can’t understand how someone can say “I am not a scientist but…” and think they are qualified to dispute the findings of people that spend their lives studying something and who have their findings peer reviewed by others who have the credentials to understand what they are reading. I don’t see that level of arrogance in anything else but the environment.

    One thing I am not sure is a good idea though. Should people be able to pay to pollute and damage the environment? Is the system helping these same people to reduce their negative impact on the environment. I hope they are not letting businesses destroy habitats and do long term damage just so the state can tax them on it. Thanks. Hugs

    Liked by 1 person

    • Cap and trade revenues are generally intended to be used for clean energy/green social programs (e.g. electric vehicles, mass transit, etc.). It is far from a perfect solution, but nevertheless desirable given the constraining realities of market capitalism.

      Liked by 1 person

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