POLLUTERS PAY CLIMATE SUPERFUND BILL COULD DELIVER $150 BILLION TO CALIFORNIA WITHOUT RAISING TAXES; HELP ADDRESS AFFORDABILITY CRISIS

Yahoo

14-05-2025

AB 1243 / SB 684 Offers Major Boost to State Budget, Shifts Climate Costs from Taxpayers to Big Oil
SACRAMENTO, Calif., May 14, 2025 /PRNewswire/ -- In response to California's newly announced budget shortfall, the Campaign for a Safe and Healthy California (CSHC) today urged state leaders to consider AB 1243 and SB 684, the Polluters Pay Climate Superfund Act of 2025, as a solution to the state's budget woes. This landmark legislation would require the world's largest fossil fuel companies to pay their fair share for the climate damage they have caused in California, helping close the state's budget gap and affordability crisis.
"For decades, California's most powerful polluters—especially Big Oil—have treated communities of color as sacrifice zones," said Martha Dina Argüello, Steering Committee Member of the Campaign for a Safe and Healthy California and Executive Director of Physicians for Social Responsibility Los Angeles. "The health consequences have been severe: higher rates of asthma, cancer, cardiovascular disease, and birth complications in neighborhoods forced to live with toxic emissions and drilling. At the same time, we're hit first and worst by climate disasters—wildfires, extreme heat, floods—that are intensified by the same fossil fuel pollution. Our communities are paying with their health and their lives while polluters profit. It's time to make Big Oil pay for the harm they've caused. That's why we strongly support the California Climate Superfund Bill."
The bill's goal is simple: shift billions in current and future climate costs off the backs of California taxpayers and onto the corporate polluters most responsible for the climate crisis.
Key Impacts on California's Budget:
$150 Billion or more in Revenue:A similar law passed in New York in 2024 is projected to generate $75 billion. With this law in place, California could generate $150 billion or more over the next two decades.
Soaring Climate Costs:The 2025 Los Angeles wildfires alone are projected to cost the state between $250–275 billion in property damage, healthcare, emergency response, and economic losses. Without change, California taxpayers will continue to shoulder these rising costs — while fossil fuel companies profit.
Reimbursing Taxpayers:The bill allows California to recover billions in expenditures tied to climate impacts, from wildfire suppression to flood recovery. Importantly, AB 1243 / SB 684 requires the fossil fuel giants — not the state — to cover both the setup and administrative costs. There are no new taxes on the public.
The bill creates the Polluters Pay Climate Superfund, which will fund:
Disaster recovery and emergency response
Clean energy projects, public transit, and building decarbonization
Community health and resilience infrastructure
Support for displaced workers and essential responders
At least 40% of the funds will directly benefit disadvantaged communities, which are hit first and hardest by climate impacts.
Organized as the Campaign for a Safe and Healthy California, the group led by community leaders and environmental justice organizations has grown to a large and formidable statewide coalition organized as CAvsBigOil.com and includes doctors, nurses, faith leaders, artists, and labor organizations united to protect California from Big Oil's toxic pollution.
For more information about the Campaign for a Safe and Healthy California and our efforts to hold polluters accountable, visit our website at CAvsBigOil.com.
Paid for by Campaign for a Safe and Healthy California, Sponsored by Nonprofit Environmental and Health Organizations.
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SOURCE Campaign for a Safe and Healthy California