March 29, 2024
California's cap-and-trade extended
SAN FRANCISCO – (INT) – Governor Brown joined several Legislative leaders and former governor Arnold Schwarzenegger Tuesday for a bill-signing ceremony to strengthen and extend the state’s cap-and-trade program by 10 years.

The bill was signed at the same location on Treasure Island where Governor Schwarzenegger signed the California Global Warming Solutions Act of 2006, which authorized the state’s cap-and-trade program more than a decade ago.

Backers of the extension claim it will ensure that billions of dollars in auction proceeds continue flowing to communities across California.

They say the investments have preserved and restored tens of thousands of acres of open space, helped plant thousands of new trees, funded 30,000 energy efficiency improvements in homes, expanded affordable housing, boosted public transit and have helped more than 100,000 Californians purchase zero-emission vehicles.

AB 398 was authored by Riverside County Assemblyman Eduardo Garcia (D-Coachella).
Story Date: July 31, 2017
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