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TJPA advocates for early cap-and-trade reauthorization, keeps pressure on Bay Area caucus
Summary
Townsend Public Affairs briefed the board on Sacramento dynamics: the Senate is further along on cap-and-trade reauthorization, the assembly is less advanced, and TJPA is pushing for reauthorization, expanded pots, and a line item to support the Portal project.
Townsend Public Affairs told the TJPA board it is pressing for early reauthorization of California’s cap-and-trade program and broader access to funding pots that would make the Portal competitive for multi-year awards.
Niccolo DeLuca said the Senate is further along in internal discussions and has a working group that supports a 25% set-aside for high-speed-rail funding. He said the Assembly is generally less advanced and that the governor’s position remains the "x factor" in whether reauthorization can be completed this year or slips into 2026.
"When it comes to cap and trade, we're really asking for 3 things: 1, reauthorize as soon as possible; 2, build out all the pots we'd be eligible for; and then 3, some type of line item for the project," DeLuca said.
During board follow-up, the executive director and DeLuca addressed auction proceeds and recent market trends. The executive director reported the most recent quarterly auction produced roughly $830 million, down from about $1.3 billion in the prior quarter, and cautioned that earlier reauthorization generally supports stronger market demand for credits.
The board also heard that MTC is advancing a regional transportation funding measure toward the November 2026 ballot and that SB 63 — legislation identified as supporting transit operators — is among state-level vehicles the TJPA is tracking.
DeLuca closed by noting Townsend’s ongoing work maintaining Bay Area caucus relationships and educating newer legislators about the project’s regional benefits.
