If you’re in the 10th Senate district, then you can rest easy. Your Senator, Bob Wieckowski, was one of the authors of the bill. He deserves a thank you!
Find your local reps here.
What we like about SB775
- A steadily rising price for pollution credits – the bill would modify California’s cap and trade system to have a steadily rising price starting in 2021, This would allow consumers, businesses, and investors the predictability they need to accelerate the shift to a clean energy future in California.
- Protecting low and middle income households – the bill includes returning some revenue from the program directly to households, which will protect households from the effects of price increases while still motivating emissions reductions. This can allow the price to rise to the level necessary to reach our climate goals, while protecting families and communities, stimulating our economy, and encouraging ongoing public support for the state’s climate programs.
- Simplicity – the bill would eliminate offsets and allocation of free allowances as well as minimizing banking of allowances from year to year.
- Improved air quality in disadvantaged and fenceline communities – the elimination of offsets and free allowances should motivate greater emissions reductions at all sites statewide and reduce the chances of toxic “hotspots” in low income neighborhoods.
- Wider coverage of emissions – With no free allowances and 100% of the emission allowances auctioned, a greater part of the economy would be covered by the carbon price.
- Protecting the California economy and jobs – the bill provides for a border adjustment to provide a level playing field between California and states and countries without a similar carbon price, thus discouraging the movement of emissions (and jobs) outside of California.
- Greater emissions reductions – with the price rising steadily to a level higher than under existing statute, we can expect a greater reduction in emissions from the carbon price.
For more info, see the website of Californians for a Carbon Tax.