Newsom, California Democrats double down on cap-and-trade program
Gov. Gavin Newsom (D) and top California Democrats announced on Tuesday that they would seek an extension of the state’s “cap-and-trade” emissions reduction program — countering Trump administration efforts to thwart such initiatives.
Newsom, along with State Senate President pro Tempore Mike McGuire and Assembly Speaker Robert Rivas, made this decision following a recent executive order that called for the rollback of what President Trump described as local environmental “overreach.”
In last week’s order, Trump chided states for advancing “burdensome and ideologically motivated ‘climate change’ or energy policies that threaten American energy dominance.”
He claimed that the Golden State “punishes carbon use by adopting impossible caps on the amount of carbon businesses may use, all but forcing businesses to pay large sums to ‘trade’ carbon credits to meet California’s radical requirements.”
A day after the executive order’s issuance, Newsom indicated that he would not be backing down, vowing on Wednesday that “California’s efforts to cut harmful pollution won’t be derailed by a glorified press release masquerading as an executive order.”
California’s cap-and-trade program — proposed and then signed into law by Republican Gov. Arnold Schwarzenegger in 2006 — seeks to hold carbon polluters accountable by charging them for excess carbon emissions.
But the current program is set to expire in 2030 and therefore requires an extension from the legislature.
Newsom argued in his proposed budget that extending the program already this year could help ensure greater market certainty, attract stable investments and cement California’s climate leadership.
In a collective statement on Tuesday, Newsom, McGuire and Rivas hailed the cap-and-trade program’s effectiveness in cutting emissions and generating attractive jobs.
“In just the last decade, cap-and-trade has invested billions of dollars in projects by holding polluters accountable — helping clean our air, protect public health and propel new careers,” the lawmakers added.