CARB Agrees to Use Some Cap-and-Trade Funds for HSR
Today the California Air Resources Board voted to spend cap-and-trade revenues on high speed rail, among other uses:
The state Air Resources Board voted today to support the proposal from the state Finance Department to invest the first three years of revenue from the allowance auctions on carbon- reducing projects including high-speed rail, zero-emissions vehicles, low-income housing retrofits and urban forestry.
California Governor Jerry Brown proposed last year using as much as $500 million a year in revenue from the carbon sales to pay for a high-speed rail project linking the state’s largest cities. The air board has so far generated $138 million from its first two allowance auctions and will hold one more on May 16 for this fiscal year, which ends June 30.
Today the California Air Resources Board voted to spend cap-and-trade revenues on high speed rail, among other uses:
The state Air Resources Board voted today to support the proposal from the state Finance Department to invest the first three years of revenue from the allowance auctions on carbon- reducing projects including high-speed rail, zero-emissions vehicles, low-income housing retrofits and urban forestry.
California Governor Jerry Brown proposed last year using as much as $500 million a year in revenue from the carbon sales to pay for a high-speed rail project linking the state’s largest cities. The air board has so far generated $138 million from its first two allowance auctions and will hold one more on May 16 for this fiscal year, which ends June 30.
