On July 17th, the California State Assembly and Senate voted with a two-thirds super majority to extend the program through 2030. The vote threshold achieved was important to ensure the validity of the program should it be considered a “tax” by a future court decision. The program is a market-based mechanism designed to reduce greenhouse gas emissions. The program extension was opposed by some Republicans who argued the measure would negatively affect the poor by increasing prices for fuel and food.
Bipartisan Vote to Extend Cap and Trade to 2030
August 4, 2017