Posted on 02/21/2014 6:16:22 AM PST by BenLurkin
It would impose an estimated 15-cents-a-gallon carbon tax on fuel next year, offsetting an indirect tax that will be imposed in 2015 under the existing law that helped establish the nation’s largest carbon-trading marketplace.
The state’s current cap-and-trade program applies only to industrial plants. It allows companies with higher emissions of greenhouse gases to buy pollution credits from companies that have found a way to lower their emissions below a certain threshold.
But next year, the cap-and-trade program is scheduled to be extended to the producers of carbon-based consumer fuels. In turn, that will raise prices at the pump by an uncertain level.
Steinberg said his proposal would raise the per-gallon carbon tax to an estimated 24 cents by 2020, which he said would still be lower than the 40-cents-a-gallon price hike that is possible under AB32. He acknowledged, however, that by 2029 his proposed carbon tax would be higher than the upper projected limit under the current law.
(Excerpt) Read more at losangeles.cbslocal.com ...
No Californian is free.
How is that offsetting? It appears to be a duplication resulting in double taxation for the same reason.
Did they steal that idea from our Pennsylvania (republican) Governor? It’s so wonderful.
It should be emphasized that this is a California law only.
Coming attractions nationally.
True, but transferring more private wealth into the public domain hurts us all. Less disposable income in any state places a drag on the national economy.
Also like to point out....this is in addition to a national gasoline tax to take effect in 2015.
Liberals just don't get it.
They've allowed the 2% SS tax cut to expire last year, implementing Obozocare w/all the taxes and surcharges on the public, national fuel tax increase 2015, raising minimum wage to name few will likely cause this economy to slide into recession if not already there.
This is part of the government’s war on the people. We already have road taxes that do not fix roads, they just want more money to waste on their pork and vote buying.
Just to remind everyone CA has one or the highest gas taxes in the country already. On top of that CA pay more because of special fuel blends that are only refined in CA. As a former CA resident to current residents: You vote for these people now bend over and take it good and hard.
Things that never change.
Democrats = Taxes
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