California Lawmakers Stretch Limits of Greenhouse Gas Proceeds
Governor Jerry Brown, a Democrat, has other plans for some of that carbon-auction revenue.
California Gov. Jerry Brown speaks during a bill signing event at the Leland Stanford Mansion on May 19, 2015 in Sacramento, California.
Photo by Justin Sullivan/Getty ImagesThis article is for subscribers only.
California lawmakers are finding it may not be so easy to spend more than $2.9 billion in proceeds from auctioning greenhouse gas credits in the state’s landmark cap-and-trade market.
Buoyed by higher revenue estimates from selling pollution permits to companies, Democratic leaders of the Senate and Assembly are looking to pump money into communities most affected by toxins, improve the efficiency of farms and even ward off mosquitoes.