|Action||Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)|
|Comment Period||Ended on 8/30/2023|
I oppose pulling Virginia out of the Regional Greenhouse Gas Initiative (RGGI).
We are in the middle of climate disruptions--drought, flooding, wildfires, rising temperatures, storms--brought on by greenhouse gas emissions and RGGI gives Virginia an effective cap-and-trade system that can help reduce those emissions.
That's a crucial benefit for Virginians, but the benefits go further. Revenues from RGGI have brought in over $1/2 billion, more than projected by state officials. Of those revenues, 45% goes to the Community Flood Preparedness Fund and 50% goes to energy efficiency programs that benefit low-income households in Virginia. Presently there is no sustainable alternate source of funding proposed to replace RGGI in supporting these programs.
Finally, this attempt by the Governor and a state board to pull Virginia out of RGGI by executive action is likely illegal and violates the separation of powers. Participation in RGGI is mandated by Virginia law and only the General Assembly can pass legislation to repeal the law. To try to take Virginia out of RGGI by executive action will undoubtedly result in an expensive court challenge, paid for by the taxpayers.
Trying to take Virginia out of RGGI makes no sense.