The multimillion-dollar fight over Washington state’s cap-and-invest program

By John Strang
Cascade PBS
May 3, 2024
Category: Carbon, Climate & Bioenergy
Region: United States, US West

WASHINGTON — Bolstered by an almost $5 million war chest, supporters of Washington’s cap-and-invest program have begun their efforts to keep the state’s carbon pricing system, which is facing a November recall referendum. …The coalition hoping to repeal the state’s new cap-and-invest program, Let’s Go Washington, has raised just over $8 million so far, but most of that came as $5 million in loans from the instigator of the initiative. …The cap-and-invest program has already brought about $2 billion into the state budget, mostly to support climate change mitigation, health and construction programs. During this year’s legislative session, lawmakers allocated more than $800 million of those dollars to do things like buy electric school and transit buses, install electric vehicle charging stations, support salmon recovery and coastline restoration, buy forest land and restore landscapes destroyed by wildfires. If the initiative passes, that new source of cash would dry up.

Read More