Oppose the Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)
I am opposed to the repeal of CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22). Virginia needs to continue to be part of the Regional Greenhouse Gas Initiative (RGGI).
People all over Virginia have benefited from RGGI.
Flood damage is increasing across the Commonwealth and, by law, 45% of RGGI.
Revenue addresses flooding.
Revenue from RGGI has surpassed half a billion dollars, far outstripping projections by state officials.
No sustainable funding source has been proposed to replace the revenue from RGGI needed to address flooding. And no funds have been proposed to replace the 50% of RGGI revenue mandated to permanently reduce the energy burden on low-income households through weatherization.
Only the General Assembly can repeal a law, it is not within the power of a governor or a state board. Attempts to circumvent the legislature will end in court and taxpayers will have to pay to defend an action they oppose.
RGGI uses cap-and-trade, a proven, market-based system that reduces emissions. It is an essential part of Virginia’s Clean energy future.