California’s cap-and-trade program, which aims to cut greenhouse-gas emissions by imposing fees on the state’s energy and fuel providers, has raised $33 billion since its inception in 2006, according to Gov. Gavin Newsom.
The California Air Resources Board (CARB) released a report on May 7 detailing the money collected through the program as Newsom and the Democratic Legislature seek an extension for it.
“California must continue to lead on reducing pollution and ensuring our climate dollars benefit all residents,” said Newsom, Senate President pro tempore Mike McGuire, and Assembly Speaker Robert Rivas in an April statement. “That’s why we’re doubling down on cap-and-trade: one of our most effective tools to cut emissions and create good-paying jobs.”…