Rob Lapsley, the president and CEO of the California Business Roundtable, joins Capitol Weekly’s John Howard and Tim Foster on the podcast to discuss one of the biggest policy issues of the year — the extension of California’s cap-and-trade auction program.
Earlier this month, the Assembly rejected legislation to extend the program beyond its 2020 expiration date, as urged by Gov. Brown. Under cap-and-trade, emitters of greenhouse gases can buy, sell and trade allowances that allow them to continue operating as they ratchet down on emissions.
Business interests have challenged the program in court, contending that the system improperly levies taxes and that the distribution of the auction funds are flawed. The issue is before the state Supreme Court.
The legislation had earlier cleared the Senate, but strong opposition from the oil industry and others led to hurdles in the Assembly, where business-friendly, “moderate” Democrats clearly are flexing their muscle.
Passing this legislation is high on the governor’s list and closed-door negotiations are under way at this hour.
But time is running out.