SACRAMENTO, California \u2014 California state senators voted Thursday to reject Gov. Gavin Newsom\u2019s proposed spending plan for the state\u2019s carbon auction revenues. The vote was widely seen as a protest against controversial changes that could cut billions of dollars from the state\u2019s climate funding pot.<\/p>\n
What happened: The Senate\u2019s Budget Subcommittee 2 on Resources, Environmental Protection and Energy voted Thursday morning to reject Newsom\u2019s proposed spending plan for the Greenhouse Gas Reduction Fund.<\/p>\n
That fund, also known as GGRF, receives roughly $3 billion to $4 billion a year from the sale of pollution permits, which helps pay for high-speed rail, Cal Fire and a long list of clean transportation, water, energy and environmental justice programs.<\/p>\n
The vote comes as the California Air Resources Board is weighing major changes to the state\u2019s cap-and-invest program, the carbon market that generates the revenue. Those changes are meant to ease costs for oil refineries and other industries, but legislative analysts and advocates warn they could also reduce auction revenue by up to $2 billion a year in future years.<\/p>\n","protected":false},"excerpt":{"rendered":"SACRAMENTO, California \u2014 California state senators voted Thursday to reject Gov. Gavin Newsom\u2019s proposed spending plan for the…\n","protected":false},"author":2,"featured_media":337413,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7,9,8],"class_list":["post-337412","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-california","tag-california-headlines","tag-california-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/337412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=337412"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/337412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/337413"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=337412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=337412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=337412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}