California Chamber of Commerce leans into fight to preserve cap-and-trade program

May 12, 2017 by Ronjoy Bezbarua

(Source: Los Angeles Times) The California Chamber of Commerce now wants to work with lawmakers to extend the program, which requires companies to buy permits to release emissions into the atmosphere. The chamber also wants to strike a deal in the next month, a deadline pushed for by Gov. Jerry Brown. The stance is further evidence of the shifting political landscape on climate change since Brown signed legislation last year setting a tough new target for reducing emissions by 2030. Business groups, including the Western States Petroleum Assn. and the California Business Roundtable, want to preserve cap-and-trade to prevent the state from turning to more onerous regulations. As lawmakers debate cap-and-trade, the chamber hopes extending the program will be done with a two-thirds vote, “allowing revenues to be raised for projects that are important to communities and constituencies around the state,” according to a letter sent to lawmakers on Wednesday. Read full article….

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