Critics claimed it would have led to higher gasoline prices with the cost of ‘cap and invest’ passed to the consumers by the companies who have to pay it. Washington voters have twice rejected similar cap and invest initiatives. "The political rhetoric is to call it ‘cap and invest’ because they take the taxes, and then they spend it," says Todd Myers, the Environmental Director for the Washington Policy Center. The law is similar to ‘cap and trade’ that’s been in effect in California since 2013. "We in Washington now have one of the best caps and invest bills, which will actually give us cleaner air and invest dollars in building jobs in the state of Washington," Inslee told FOX 13 News. The law is supposed to take the money from those companies paying to emit CO2 gas and put it into the state's general fund spending.ĭrivers will also be paying the country’s second-highest gas tax of $0.49 a gallon when the law goes into effect. The law requires businesses and organizations that produce more than 25,000 tons of greenhouse gases a year to obtain emissions allowances for their total emissions.
That program will set a statewide cap on greenhouse gas emissions, and then gradually reduce the cap to match the emission limits set in state law, Ecology said. Under the Climate Commitment Act passed earlier this year, the Department of Ecology must set up a cap-and-invest program by 2023. Afghanistan, Albania, Algeria, American Samoa, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Azerbaijan Republic, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, British Virgin Islands, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde Islands, Cayman Islands, Central African Republic, Chad, Chile, China, Colombia, Comoros, Congo, Democratic Republic of the, Congo, Republic of the, Cook Islands, Costa Rica, Croatia, Republic of, Cyprus, Côte d'Ivoire (Ivory Coast), Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Islas Malvinas), Fiji, French Guiana, French Polynesia, Gabon Republic, Gambia, Georgia, Ghana, Gibraltar, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guernsey, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong, India, Indonesia, Iraq, Israel, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Korea, South, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Mongolia, Montenegro, Montserrat, Morocco, Mozambique, Namibia, Nauru, Nepal, Netherlands Antilles, New Caledonia, New Zealand, Nicaragua, Niger, Nigeria, Niue, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Puerto Rico, Qatar, Reunion, Romania, Russian Federation, Rwanda, Saint Helena, Saint Kitts-Nevis, Saint Lucia, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, Sri Lanka, Suriname, Svalbard and Jan Mayen, Swaziland, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates, United States, Uzbekistan, Vanuatu, Venezuela, Vietnam, Virgin Islands (U.S.The Climate Commitment Act passed by the Democratically-led legislature and signed by the Governor in 2021 goes into effect on Jan.
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