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AB 1207 would tie cap‑and‑trade ceiling to the social cost of carbon; committee advances bill
Summary
AB 1207 would set the price ceiling in California’s cap‑and‑trade market to correspond with the social cost of carbon as assessed by the U.S. EPA. The author said the change would keep the program aligned with best available science; the committee moved the bill out with Republicans not voting.
On May 7, Assemblymember Erwin (presented by a member of his staff) introduced AB 1207, a bill to align the cap‑and‑trade program’s price ceiling with the social cost of carbon as assessed by the U.S. Environmental Protection Agency in 2023.
The presenter said the change would ensure California’s market is informed by the best available science and maintain affordability and tangible benefits for residents. The author’s presentation noted Air Resources Board cost estimates as minor and absorbable. No witnesses in the hearing room registered formal support or opposition at the time of presentation. The committee moved AB 1207 out on a roll call with Republicans not voting.
