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Lawmakers, analysts and experts debate how to use cap‑and‑trade revenues to ease costs for Californians
Summary
Analysts, CARB staff and academics told legislators that cap‑and‑trade revenues and the California Climate Credit can be restructured to address household affordability, especially for low‑income and hot‑climate households, and floated options including more visible credits, targeted rebates and using GGRF to lower infrastructure costs.
Lawmakers and policy analysts at the Joint Legislative Committee on Climate Change Policies spent the hearing probing how California’s cap‑and‑trade program affects families’ household budgets and how auction proceeds might be used to ease those pressures.
Helen Kerstien of the Legislative Analyst's Office told the committee that electricity and natural gas price impacts are likely modest because utilities receive allocations that have been returned as bill credits. By contrast, she said, gasoline and diesel are more carbon‑intensive and costs there tend to be passed through at the pump; LAO estimated the program’s contribution to retail…
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