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Senate reauthorizes Californiacap-and-invest program, advancing billions for affordability and climate programs
Summary
The Senate approved a pair of bills reauthorizing Californiacap-and-invest (AB 1207 and SB 840), extending the program into 2045 and directing billions to utility bill rebates, transit, housing, wildfire prevention and other climate investments after floor debate over costs, oversight and regional impacts.
The California State Senate on Saturday voted to reauthorize the statecap-and-invest program, approving Assembly Bill 1207 and a companion measure, SB 840, to extend the program to 2045 and direct multi-billion-dollar investments to affordability, transit, housing and wildfire prevention.
Supporters said the package will lower utility bills, expand rebates timed to high-cost months and fund climate and community programs. Opponents warned about costs to consumers and urged stronger plans for affordability and wildfire mitigation.
The bills were presented to the Senate by Senator Limon on behalf of Assemblymember Erwin; Limon said AB 1207reestablishes Californiacap-and-tradeleadership and will connect markets and fund cleaner energy. The chamberalso heard extended remarks from the President pro tempore (Pro Tem), who called the package "truly one of the most impactful affordability climate and…
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