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California's Cap-and-Trade Program Gets a Different Mission

California reallocates $3.25 billion annually from auction proceeds to wildfire suppression, bullet train, and legislative spending while tightening emission allowances and increasing oversight.

Summary by Times of San Diego
Construction of the California high-speed rail project, as in this bridge under construction in Fresno County, will get $1 billion a year under the revised cap and trade program. (Photo by Godofredo A. Vásquez/Associated Press) This column was originally published by CalMatters. Sign up for their newsletters. Nineteen years ago, during actor Arnold Schwarzenegger’s governorship, he and the Legislature created a program that would, in theory, red…

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Cap and trade gets a new name and a new mission beyond cutting carbon pollution

Dan Walters Commentary: Cap and trade is a backdoor tax on consumers, because industrial purchasers fold auction payments into the prices of what they produce.

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Cal Matters broke the news in Sacramento, United States on Wednesday, December 10, 2025.
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