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California Policymakers Face GHG Spending Debate As Revenues Decline

January 13, 2020
California Gov. Gavin Newsom’s (D) administration, state lawmakers and key stakeholders are expected to ramp up debate over how to spend hundreds of millions of dollars from the state’s greenhouse gas allowance auctions in the coming years as total revenue declines after the program’s carbon cap tightens and fewer credits are offered for sale. Newsom’s proposed fiscal year 2020-21 budget, required to be unveiled by Jan. 10, “should reflect much lower [revenue] in the Greenhouse Gas Reduction Fund (GGRF), so...

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