The California State Legislature will move as soon as January to keep alive a key climate program that expires in 2030, the leader of the state Senate told POLITICO’s E&E News.
Legislators will look at extending the law authorizing the state’s cap-and-trade market, which limits the yearly greenhouse gas emissions of the biggest polluters. Those that can’t meet the limit pay penalties to the state.
“We plan to hit the ground running come January,” state Senate Pro Tempore Sen. Mike McGuire, a Democrat, said in an email when asked about reauthorizing the program. “The Golden State leads the nation on advancing bold, evidence-based climate policy.”
McGuire’s statement marks the first confirmation that the California Legislature will look at extending the program starting early next year. The early start will help regulated businesses that need to make long-term climate plans.
