(The Center Square) – A ballot proposition to be decided in next month’s election could do away with Washington’s controversial carbon auction system. The Center Square team has a quick rundown of what the measure is and how it affects Washington taxpayers.
The 2021 Climate Commitment Act launched Washington state’s carbon market in 2023. It requires emitters of pollution to pay for their emissions by purchasing allowances at quarterly auctions.
Proponents claim this will motivate large industrial polluters to lessen their emissions as part of a plan to reduce greenhouse gas emissions by 95% by 2050. The more than $2 billion raised so far is slated to go to clean energy projects.
Opponents claim the CCA has significantly raised gas prices – counter what state officials predicted – while doing nothing to address pollution. Critics point to a former state Department of Ecology economist who claims he was pressured to fudge the numbers on the CCA’s impact on gas prices.
Washington Editor Brett Davis explains the CCA and what’s going to be decided when voters cast their ballots in November.
