Latest news with #AB1243
Politico
15-05-2025
- Business
- Politico
Cap and trade is dead. Long live ‘cap and invest.'
Presented by WHAT'S IN A NAME?: Gov. Gavin Newsom's cap-and-trade proposal — at least one page of it — is officially on the table. Dig in. After a monthslong will-he-won't-he, Newsom came through today with a bid to reauthorize the state's bedrock emissions trading program through 2045. And, in line with his rebrand of it as 'cap and invest,' he put a heavy focus on its revenues — particularly against the backdrop of a $12 billion overall deficit. 'The taxpayer will be happy to hear about that $60 billion that will go back into people's pockets, if we are successful in getting that program extended,' he said, referring to a credit on utility bills. He also echoed an idea state lawmakers have been pushing with little success so far — making oil and gas companies pay for climate damages — to explain his proposal to use $1.5 billion of the cap-and-trade revenues to backfill general fund cuts to Cal Fire. Backers of a pair of stalled 'polluters pay' bills in the Legislature had pitched the concept as a budget savior, though some grumbled on Wednesday that they had meant for oil and gas companies to pay up even more. 'Cap-and-trade is one piece of the puzzle, but we cannot lose sight of the fact that what is fair and just, particularly for front line communities, is for polluters to make up for what they have done,' said Assemblymember Dawn Addis, author of AB 1243. Business groups were quick to get on board, praising Newsom's steering clear of thornier questions on how the program should look. 'A clean reauthorization of the cap-and-trade program through 2045 means that California will continue to balance compliance costs for businesses and consumers while encouraging investments into the state,' said CalChamber President and CEO Jennifer Barrera in a press release. Environmentalists, meanwhile, bristled at the lack of mention of potential reforms to the program they've floated, like eliminating free credits designed to stop major polluting industries from leaving the state and emissions caps on individual facilities. 'What the governor is proposing is reauthorization, not reform,' said Ryan Schleeter of the Climate Center. Also bummed: public transit agencies, who had been hoping for a shout-out, if not their entire $2 billion ask for cash-strapped systems. 'Staying silent on continued investments in transit, even as a starting position for the 'cap-and-invest' plan, is a blow to all who rely on essential transit service and throws into doubt the future of public transit in California,' said Michael Pimentel, executive director of the California Transit Association. Still quiet: labor unions, who'd pushed for an extension of the 25 percent carveout for high-speed rail and got roughly that: a guaranteed funding stream of at least $1 billion annually, which would be about equivalent to 25 percent of current annual revenue. The fight is now in the Legislature, where key members are being circumspect. 'I don't think everybody is on the exact same page just yet, other than the idea that we are going to get something done,' Assembly Natural Resources Committee Chair Isaac Bryan told us. 'We will get our say, and we'll get our input, and if there's enough consensus among us to go further than the governor then we will, and we have before.' Stay tuned. 'My expectation is that by the end of the month, you'll see a proposal from the Assembly, a proposal from the Senate, and that conversations will unfold from there,' Assembly Utilities and Energy Committee Chair Cottie Petrie-Norris said in an interview. Did someone forward you this newsletter? Sign up here! WATER WARS: Newsom is aligning himself with President Donald Trump's demands for more water deliveries — and picking a fight with Delta lawmakers — by asking the Legislature to fast-track a proposed $20 billion, 45 mile-long tunnel to route water around the Sacramento-San Joaquin River Delta to farmers and cities south. He teased the ask, which will take the form of a trailer bill, during his annual revised budget presentation Wednesday morning, when he called the Delta Conveyance Project 'one of the most important climate adaptation projects in this country.' 'We have got to move that project forward and learn the lessons from the high-speed rail,' Newsom said, referring to delays and ballooning costs plaguing the high-speed rail project. The effort to speed judicial reviews echoes an infrastructure streamlining package Newsom got lawmakers to sign two years ago — which notably did not include the Delta Conveyance Project after heavy pushback from environmental groups and Delta lawmakers. Sen. Jerry McNerney, who represents the area that would bear the construction impacts of the project, immediately panned Newsom's latest proposal as a 'poorly conceived plan that the Legislature should reject.' 'You're going to see all hands on deck to protect the Delta,' added Assemblymember Rhodesia Ransom, from Tracy. She said she would launch an audit of the Department of Water Resources and the tunnel project in the Legislature. 'I just want to make sure we have a handle on how this project is going to impact farmland, farmers and Indigenous communities as well as our ecosystems,' she said in an interview. The group of water agencies that would get the water from the new tunnel, meanwhile, cheered the proposal. 'The State Water Project is California's largest water infrastructure and is in dire need of modernization to secure water supplies for generations to come,' said Jennifer Pierre, the general manager of the State Water Contractors. 'Gov. Newsom's proposal marks a critical step in reducing barriers to innovation while creating efficiencies that will save time and billions of dollars as construction of the DCP moves forward.' — CvK DUFFY'S DEFENSE: The Trump administration is hitting back at Democratic state attorneys general who are challenging a freeze on federal electric vehicle charger grants in court. Transportation Secretary Sean Duffy blasted the effort, spearheaded by California, Colorado and Washington, arguing that the administration's hold on funding is lawful as the Department of Transportation reviews the program. 'The Biden-Buttigieg Administration failed miserably to deliver EV chargers despite their promises,' Duffy said in a statement today. 'Congress gave the Secretary the authority to issue program guidance and ensure money is being spent efficiently, and that's exactly what we are doing.' Duffy also used the statement to hit directly at California, calling out the high-speed rail project his department is currently investigating. 'It's rich that California has joined this lawsuit, given that California has spent billions of taxpayer dollars on a boondoggle rail project that has yet to lay a single piece of track,' he said. — AN WHERE THERE'S SMOKE: Insurance Commissioner Ricardo Lara is launching a task force to figure out whether and what public health standards should exist to guide insurance claims on wildfire smoke damage, he announced today at an event hosted by Capitol Weekly. People who've seen their homes filled with wildfire smoke have complained about a confusing patchwork of coverage from their insurance companies, who will sometimes pay out smoke claims but don't have a standardized way of measuring damage. A group of Angelenos with smoke damage from January's fires have even sued the state's insurer of last resort, the FAIR Plan, for not paying for repairs. 'The lack of consistent public health standards for smoke damage has led to confusion, delays and uneven treatment for California homeowners,' Lara said today. 'This is a health and safety issue first and foremost, and that needs to be led by experts who know the issues best.' — CvK — Salton Sea communities are fighting to keep lithium mining profits in the region. — Bay Area nonprofits are scrambling for new funding after the Trump administration nixed their grants. — Tesla sales are cratering, but the company is weighing whether to give CEO Elon Musk a new pay package.
Malaysian Reserve
14-05-2025
- Business
- Malaysian Reserve
POLLUTERS PAY CLIMATE SUPERFUND BILL COULD DELIVER $150 BILLION TO CALIFORNIA WITHOUT RAISING TAXES; HELP ADDRESS AFFORDABILITY CRISIS
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 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 Paid for by Campaign for a Safe and Healthy California, Sponsored by Nonprofit Environmental and Health Organizations.
Yahoo
14-05-2025
- Business
- Yahoo
POLLUTERS PAY CLIMATE SUPERFUND BILL COULD DELIVER $150 BILLION TO CALIFORNIA WITHOUT RAISING TAXES; HELP ADDRESS AFFORDABILITY CRISIS
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 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 Paid for by Campaign for a Safe and Healthy California, Sponsored by Nonprofit Environmental and Health Organizations. View original content to download multimedia: SOURCE Campaign for a Safe and Healthy California
Associated Press
21-02-2025
- Business
- Associated Press
FRONTLINE COMMUNITIES CO-SPONSOR NEWLY INTRODUCED 'CLIMATE SUPERFUND ACT OF 2025" TO MAKE POLLUTERS PAY FOR CLIMATE-FUELED DISASTERS
SACRAMENTO, Calif., Feb. 21, 2025 /PRNewswire/ -- As Californians struggle to rebuild communities torn apart by devastating wildfires, The Campaign for a Safe and Healthy California (CSHC) today announced that it is co-sponsoring the Polluters Pay Climate Superfund Act of 2025 (SB 684 and AB 1243) along with the Center for Biological Diversity and California Environmental Voters. Introduced by Senator Menjivar and Assemblymember Addis, this bill addresses the financial injustices imposed on taxpayers and working families from climate-related disasters by requiring fossil fuel polluters to pay for the destruction they cause. 'For decades, Big Oil has reaped massive profits while driving the climate crisis and misleading the public. It's time for polluters to pay for the destruction they've caused,' said Darryl Molina Sarmiento, Executive Director for Communities for a Better Environment and CSHC Steering Committee Member. 'This legislation provides a critical pathway to hold these corporations accountable for the damage caused by their products.' Fueled by climate change and driven by extreme drought and record-breaking heat waves, California's wildfires are exacerbated by decades of environmental harm caused by large corporate polluters who knew exactly what their pollution would cause. Despite heroic efforts by firefighters and first responders, Southern California wildfires burned more than 10,000 structures, including homes and businesses, and have driven 180,000 residents out of their homes. This devastation alone is estimated to cost Californians at least $250 billion. The Polluters Pay Climate Superfund Act identifies and assesses a fee on a small number of the world's largest fossil fuel polluters, proportional to their fossil fuel emissions since 1990. This legislation addresses a growing crisis in California, where increasingly frequent and devastating wildfires, extreme weather, and other climate-related disasters have placed an enormous financial burden on families, businesses, and the state. A recent study revealed that ExxonMobil and other oil giants were aware of the climate risks associated with fossil fuels as far back as the 1950s. Instead of acting responsibly, they funneled millions into disinformation campaigns, stalling action and ensuring continued reliance on their products. This deliberate deception has resulted in irreparable harm to California's families, infrastructure, and natural environment. The Polluters Pay Climate Superfund Act will: Direct CalEPA to complete a climate cost study to quantify total damages to the state (through 2045), caused by past fossil fuel emissions. Direct CalEPA to identify responsible parties and assess compensatory fees on the largest fossil fuel polluters proportional to their fossil fuel emissions 1990 through 2024, to address damages quantified in the cost study. Fund California's future. Fees collected will fund projects and programs to mitigate disaster related rate increases for Californians and remedy or prevent climate-related costs and harms. The bill prioritizes labor and job standards and dedicates at least 40% of the funds to benefit disadvantaged communities. 'As a Steering Committee member for the Campaign for a Safe and Healthy California, I am proud to stand alongside a diverse coalition of community leaders and environmental justice organizations in support of the Polluters Pay Climate Superfund Act,' said Martha Dina Argüello, Executive Director of Physicians for Social Responsibility-Los Angeles and CSHC Steering Committee Member. 'This bill represents a unified effort to ensure that Big Oil polluters, who have reaped billions in profits while knowingly sacrificing the health and well-being of frontline environmental justice communities and fueling the climate crisis, are held accountable for the damage they have done. Together, Physicians for Social Responsibility LA, Communities for a Better Environment, California Environmental Justice Alliance, Black Women for Wellness LA, Center on Race, Poverty & the Environment, and Asian Pacific Environmental Network Action demand justice for California communities by making polluters pay.' The state of New York also recently passed a Climate Superfund Bill that shows growing momentum nationwide to hold Big Oil accountable for decades of pollution and its devastating effects on a state and local level. These actions by states are critical as President-elect Donald Trump vows to unravel corporate accountability for the oil industry's polluting ways. California has long been a leader in climate policy, and the Polluters Pay Climate Superfund Act builds on this legacy. From wildfire recovery to rebuilding efforts and mitigation, this bill provides a lifeline to families and communities bearing the brunt of climate change. California's largest greenhouse gas emitters should be the ones paying for firefighting, disaster recovery, and rebuilding efforts in communities most affected by climate-driven disasters and prevention efforts to limit future tragedies. 'California needs to seize this moment - it is time for our leaders to take bold action to protect our communities and hold those responsible for the climate crisis to account,' said Mabel Tsang, Political Director for California Environmental Justice Alliance and CSHC Steering Committee Member. 'Making these polluters pay for their climate damage is the moral and economic responsibility of this generation.'
