Cap-and-trade fund proposed to pay for Calif. HSR
Plan would tap $250 million in funds from corporate fees on greenhouse gases in an effort to help make up for $9 billion in state funding that was blocked last year in a court ruling. Environmental groups want the funds go to projects that can have more immediate effects on climate change.
SACRAMENTO, Calif. — The Los Angeles Times reported that Gov. Jerry Brown plans to provide funding to the state’s high-speed rail project by tapping $250 million in funds from corporate fees on greenhouse gases. The move is an effort to help make up for $9 billion in state funding that was blocked last year in a court ruling.
The proposal is getting opposition from environmental groups that have previously allied with the governor on the project. Environmentalists want the funds go to projects that can have greater, more immediate effects on climate change, according to the paper. For the full story, click here.
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