When California’s signature climate change program was nearing its expiration date, there was serious debate about whether to extend it. This program, called cap-and-trade, reduces carbon emissions but it also increases the costs of gas, electricity, and numerous other necessities.
That’s a significant problem in a state known for high taxes, onerous regulations, and the worst small business climate in the country.
Fortunately, our elected representatives were able to work across party lines to craft reforms that would contain costs. With these safeguards in place, the Legislature voted last year to extend the life of cap-and-trade for another decade. This bipartisan legislation, AB 398, proves California can cost-effectively shrink our carbon footprint without shrinking our state’s economy.
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