Monday, December 22, 2014

Washington Proposes a Cap-and-Trade System

Image credit: Flickr/WSDOT

The Governor of Washington, Jay Inslee, proposed a "cap-and-trade system" in order to fund part of a 12-year transportation improvement plan. Cap-and-trade systems charge polluters for the right to emit carbon and are seen as an alternative to raising the gas tax. Governor Inslee expects the plan to generate $400M per year, which is enough to cover almost 40 percent of the TIP. Projects funded through cap-and-trade income would go to transit grants, incentives for electric vehicles, maintenance of existing roads and other green uses. The income would be separate from gas tax, tolls, bond debt, and other vehicle fees. The governor has proposed a "market-based program", where the government sets a total carbon pollution maximum and charges fees for permits that allow the release of emissions. Additional information about the Carbon Pollution Accountability Act will be released with the full budget proposal.

More information can be found by reading the full article here.

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