Brown's Budget Proposal Spends Cap and Trade Money
California Governor Jerry Brown’s budget proposal includes some major investments in the environment. As Amy Quinton reports from Sacramento, it lays out how he wants to spend $850 million in revenue from the state’s greenhouse gas reduction program known as cap-and-trade.
As expected, Governor Brown wants to invest a large portion of money raised from carbon auctions on High Speed Rail. The proposal includes $300 million for construction and integration of the rail system that he’s pitched as an environmentally-friendly alternative to cars.
He also proposes investing in low carbon transportation, sustainable communities and clean energy. Erica Morehouse is with the Environmental Defense Fund.
Morehouse: “We also heard that they could exceed the 25-percent target for spending in disadvantaged communities which is a great thing since those communities are the ones that bear the brunt of pollution and are most vulnerable to climate change.“
Brown also would repay $100 million of a $500 million loan taken from the cap and trade program to balance the state’s books last year.