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California lawmakers reauthorize cap-and-invest program, pledging billions for rebates, transit and wildfire prevention
Summary
The State Senate moved to extend and reform California’s cap-and-invest (cap-and-trade) program with bills that lawmakers said will provide billions for utility bill credits, transit, housing, wildfire prevention and clean-water projects while changing how climate credits are applied.
The California State Senate on Saturday advanced a pair of measures to reauthorize and reshape the state's cap-and-invest program, backing billions in new investments intended to lower household energy costs and fund projects for transit, housing, wildfire prevention and safe drinking water.
Senators debated AB 1207 — presented on the floor by Senator Limon on behalf of Assemblymember Erwin — and companion measures that the Senate said will extend California’s cap-and-trade framework through 2045 and change how climate credits appear on utility bills.
Supporters said the reauthorization will keep the program as a leading state climate tool while directing roughly $63 billion over the next decade toward reducing household energy costs and statewide investments. “This reauthorization includes $63,000,000,000 over the next decade” to lower utility bills and boost transit, housing and wildfire…
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