Newsom — along with state Sen. Mike McGuire, the Senate president pro tempore, and Assembly Speaker Robert Rivas — made this decision following a recent federal executive order that called for the rollback of what President Trump described as local environmental “overreach.”
In last week’s order, Trump chided states for advancing “burdensome and ideologically motivated ‘climate change’ or energy policies that threaten American energy dominance.”
He claimed that the Golden State “punishes carbon use by adopting impossible caps on the amount of carbon businesses may use, all but forcing businesses to pay large sums to ‘trade’ carbon credits to meet California’s radical requirements.”
California’s cap-and-trade program — proposed and signed into law by Republican Gov. Arnold Schwarzenegger in 2006 — seeks to hold carbon polluters accountable by charging them for excess carbon emissions.
However, the current program is set to expire in 2030 and, therefore, requires an extension from the Legislature.
Newsom argued in his proposed budget that extending the program already this year could help ensure greater market certainty, attract stable investments and cement California’s climate leadership.
Read more from Sharon Udasin at TheHill.com.
