> The proposal would reauthorize the program through 2045, better align the declining cap on emissions with the state’s climate targets and potentially boost carbon-removal projects. It would also change the name to “cap and invest” to emphasize its funding of climate programs.
> Proponents of the extension say it will give companies certainty over the program’s future. The state lost out on $3.6 billion in revenues over the past year and a half, largely due to uncertainty, according to a report from Clean and Prosperous California, a group of economists and lawyers supporting the program. Some environmentalists say the Trump administration’s attacks on climate programs, including the state’s first-in-the-nation ban on the sale of new gas-powered cars by 2035, added urgency to the reauthorization effort.
> But environmental justice advocates opposing the proposal say it doesn’t go far enough and lacks strong air quality protections for low-income Californians and communities of color more likely to live near major polluters.
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> The proposal would reauthorize the program through 2045, better align the declining cap on emissions with the state’s climate targets and potentially boost carbon-removal projects. It would also change the name to “cap and invest” to emphasize its funding of climate programs.
> Proponents of the extension say it will give companies certainty over the program’s future. The state lost out on $3.6 billion in revenues over the past year and a half, largely due to uncertainty, according to a report from Clean and Prosperous California, a group of economists and lawyers supporting the program. Some environmentalists say the Trump administration’s attacks on climate programs, including the state’s first-in-the-nation ban on the sale of new gas-powered cars by 2035, added urgency to the reauthorization effort.
> But environmental justice advocates opposing the proposal say it doesn’t go far enough and lacks strong air quality protections for low-income Californians and communities of color more likely to live near major polluters.
Tl;dr